KUALA LUMPUR: Magna Prima Bhd’s net profit eased by 93% to RM147,000 in its first quarter ended March 31, 2010 from RM2.256 million recorded in the same period last year, while revenue dropped 70% to RM18.1 million from RM61.1 million in the same quarter last year due to the lack of ongoing projects.

“The U1 Shah Alam project is the only on-going project for this current quarter, compared with three on-going projects (Dataran Otomobil and Magna Ville) in the previous corresponding quarter,” said Magna Prima in a filing to Bursa Malaysia on May 26.

However, according to its statement, the Board is confident of better performance with several projects in line for launching from the second quarter onwards.

Magna Prima’s One Sierra, a mixed development project in Bandar Selayang targeted to launch in the second quarter has received positive interest for registration from potential buyers, it said.

SHARE
SPONSORED CONTENT
Bayan 2, Puchong Legenda offers 3-in-1 — landed homes, master-planned township, prime location — and more

Bayan 2 boasts a prime position at the start of Puchong, providing easy access to major highways including the Damansara-Puchong Highway (LDP) and Shah Alam Expressway (Kesas).

read more