Moving forward, the group said its construction outstanding order book of RM2.4 billion as at June 30, 2019 will be able to provide earnings visibility for the next two to three years.
On prospects, the group stressed that property development, which accounted for 80% of its revenue in 1HFY19 remains its main earnings driver, and that it is positive on the segment's outlook remaining positive despite the challenges facing the industry.
The group posted a net loss of RM14.55 million for the second quarter ended June 30, 2019 compared to a net profit of RM10.33 million a year ago.
On property development, the group is targeting RM1.6 billion in sales for FY20 — comparable to last year’s sales. It has secured RM480 million as at end-1QFY20, and plans to launch RM1.5 billion worth of properties this year to drive sales.
The co-working space business is expected to be a growth story in Paramount.
In a Facebook posting yesterday, she alleged that the tax authority had labelled funds transferred from her husband's family, a home purchased using said funds where she is named joint owner, as well as 'wang hantaran' and gifts from family as friends as her income, following an audit that began last year.
Its quarterly revenue also jumped 12.91% to RM344.33 million from RM304.96 million a year ago.
Kerjaya Prospek is currently bidding for RM1.5 billion worth of construction jobs, which include infrastructure work and high-rise residential building jobs in the Klang Valley and Penang.
“Our utmost priority is to effectively play our role as the righteous opposition to serve as check and balance to the PH (Pakatan Harapan) government.”
Nonetheless, the group is optimistic of its future prospects.
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