Exsim Hospitality bags renovation job worth RM21 mil

• The sub-contract, which is expected to be completed in three months, will contribute positively to the net assets, earnings and gearing of the company during the period, the company added. 

KUALA LUMPUR (Dec 13): Exsim Hospitality Bhd (KL:EXSIMHB), formerly known as Pan Malaysia Holdings Bhd, has secured a sub-contract worth RM20.98 million for renovation works on 62 office units located on Old Klang Road.

The sub-contract was awarded to its wholly-owned subsidiary, Exsim Concepto Sdn Bhd, by interior renovator firm Ntim Reno Sdn Bhd, according to the group’s filing with Bursa Malaysia on Friday.

The sub-contract, which is expected to be completed in three months, will contribute positively to the net assets, earnings and gearing of the company during the period, the company added. 

For the first quarter ended Sept 30, 2024, Exsim Hospitality's net losss narrowed to RM248,000 from RM848,000 a year earlier. This was the company's fifth consecutive quarter in the red.

Revenue for the quarter rose to RM2.27 million from RM1.35 million previously, driven by higher room revenue from its hotel segment.

Shares of the Main Market-listed company closed unchanged at 34.5 sen on Friday, valuing the company at RM320.46 million. Year to date, the stock has surged by over 245%, although it has been on a declining trend in recent weeks from its year- -high of 44 sen.

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