KUALA LUMPUR (March 23): KEIN HING INTERNATIONAL BHD [] posted net losses of RM292,000 in the third quarter ended Jan 31, 2012 compared with net profit of RM1.55 million a year ago due to a one-time loss of RM1.7 million arising from the disposal of investment in associate.
It said on Friday that revenue fell 8% to RM37.99 million from RM41.31 million. Loss per share was 0.29 sen compared with earnings per share of 1.57 sen.
Kein Hing said the revenue declined mainly due to a slowdown in customers’ order particularly for flat panel TV’s component parts; disruption in supply chain due to the severe floods in Thailand and the fire in a plastic part supplier’s factory in Vietnam which caused certain major customers’ operation discontinued and interrupted for few weeks.
Another factor was the shorter production days in January 2012 due to the festivities in Malaysia and Vietnam.
For the nine-month period, its earnings declined 6.3% to RM6.28 million from RM6.71 million. Its revenue rose 5% to RM129.03 million from RM122.78 million.
“The growth in year-to-date revenue was mainly attributed to stronger customers’ demand in the first half of the financial year in both Malaysia and Vietnam,” it said.
It said on Friday that revenue fell 8% to RM37.99 million from RM41.31 million. Loss per share was 0.29 sen compared with earnings per share of 1.57 sen.
Kein Hing said the revenue declined mainly due to a slowdown in customers’ order particularly for flat panel TV’s component parts; disruption in supply chain due to the severe floods in Thailand and the fire in a plastic part supplier’s factory in Vietnam which caused certain major customers’ operation discontinued and interrupted for few weeks.
Another factor was the shorter production days in January 2012 due to the festivities in Malaysia and Vietnam.
For the nine-month period, its earnings declined 6.3% to RM6.28 million from RM6.71 million. Its revenue rose 5% to RM129.03 million from RM122.78 million.
“The growth in year-to-date revenue was mainly attributed to stronger customers’ demand in the first half of the financial year in both Malaysia and Vietnam,” it said.
