There was an impairment loss on receivable amounting to RM1.89M.
Without the impairment, net profit would have been RM4.788M ( 2.898M + 1.89M ).
A net profit of RM4.788M would have been a record high for a quarter!
--- Notes --- B2. The Group registered a higher Profit Before Tax by RM2.49 million in Q2 2023 as compared to Q1 2023, mainly due to higher gross profit by RM4.88 million as a result of higher revenue and higher gain on foreign exchange by RM0.87 million, offset by higher impairment loss on trade receivables by RM1.96 million and higher carriage outwards and export expenses by RM0.49 million.
B6. ... impairment loss on trade receivable amounting to RM1.89 million being made in the current quarter which is not tax deductible in nature.
KUALA LUMPUR (Aug 29): The Malaysian government will proceed with the establishment of the National Energy Council, said Economy Minister Mohd Rafizi Ramli, in order to facilitate the implementation of the National Energy Transition Roadmap (NETR).
The council will be chaired by Prime Minister Datuk Seri Anwar Ibrahim, with the Ministry of Economy as the secretariat, Rafizi said at the launch of the second phase of the NETR here. As energy transition emerges as a key economic pillar for Malaysia, the council “would set forth high-level strategic directions and policies, allowing for the working committees to coordinate and report the progress in turn”, he said.
The first council meeting is expected to be held in October, Rafizi added. Malaysia first mulled the establishment of the National Energy Council in September last year, following the launch of the National Energy Policy 2022-2040 by the previous administration at the time. Since the change in government in November last year, the energy industry has experienced a series of changes, such as the transition into a targeted subsidy mechanism for electricity prices, adjustment of renewable energy (RE) tariffs to reflect international pricing, lifting of the RE export ban, and expansion of the RE quota and installed capacity target to accelerate the industry transition.
Anwar, when launching the NETR on Tuesday, also announced the establishment of an RE exchange by 2024. The exchange, Anwar said, will act as “a market aggregator that will enable price discovery and monetise excess power”. Rafizi, touching on the exchange, added that it is necessary for the country to command the price premiums of RE that come from cross-border trading. At the same time, a single market aggregator previously touted by Rafizi will play a role in ensuring that the exchange is trusted by market participants, he said.
What we could say for certain is that we will never be able to fully unlock the true potential of RE without establishing a physical energy exchange in the country. “As the exchange matures, market-creating products could be created to further unlock value of different markets that yield healthy returns to its participants,” Rafizi said. “The exchange could also facilitate closer interconnectedness of Southeast Asia, which mutually benefits the region as a single economic bloc,” he added.
Esontech is a company incorporated in Malaysia and having its registered office at No. 6, Jalan Chew Sin On, 31650 Ipoh, Perak Darul Ridzuan. The issued share capital of Esontech is RM300,000 comprising 300,000 ordinary shares. The core operations of Esontech encompass, without restriction, the design, production, and promotion of automated equipment, testers, systems, and software solutions tailored to cater to the needs of the silicon photonics industries.
Aimflex Berhad entered into a shares sale agreement to acquire 46.67% stake in Esontech Sdn. Bhd from Loo Kok Leong and Ooi Beng Kim for MYR 0.57 million on September 14, 2023. The consideration shall be satisfied by cash from the Subscription exercise completed on 3 June 2022.
Aimflex Berhad is acquiring additional 33% stake from Leong Kim Em in another agreement. The transaction is expected to complete within 45 days.
@abdulazizbas, From zoizai: Esontech is a company incorporated in Malaysia and having its registered office at No. 6, Jalan Chew Sin On, 31650 Ipoh, Perak Darul Ridzuan. The issued share capital of Esontech is RM300,000 comprising 300,000 ordinary shares. The core operations of Esontech encompass, without restriction, the design, production, and promotion of automated equipment, testers, systems, and software solutions tailored to cater to the needs of the silicon photonics industries.
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
ismadi
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Posted by ismadi > 3 weeks ago | Report Abuse
today start sleeping OMG