Quarterly Report For The Financial Period Ended 31 December 2017

Financials Reports

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Condensed Consolidated Statements Of Profit Or Loss
For The Quarter Ended 31 December 2017

Income Statement

Condensed Consolidated Statement Of Financial Position
As At 31 December 2017

Balance Sheet

Review of Performance of the Company and its Principal Subsidiaries

Group Revenue performance compared to the preceding year’s same quarter has reduced by 15%. While the Hotel Division continue to register an improved performance, the lower revenue was mainly registered by the Travel Division due to slow down of traveler to Hong Kong.

The Group registered a consolidated profit before Interest, tax, Depreciation and Amortization of RM3.943 million as compared to RM3.178 million in preceding year same quarter. The improvement was as a result of:

  1. Higher Occupancy and improved yield achieved by the Hotel properties
  2. Gain from the disposal of non-core asset

Commentary on Prospect

Hotel Division
Riding on the momentum and recovery of the Hotel Division over the last two quarters, the Division is expected to deliver improved result in Financial Year 2017/2018. Intensified efforts to improve sales and marketing strategies are showing the desired results. In addition, attention was given to yield, productivity and excellence in its services. The opening of Avillion Cameron Highlands on 16th January 2018 is expected to contribute positively to the Group's performance from the 4th quarter 2017/18 onwards.

The Group will continue to pursue new management contracts by leveraging on its internationally recognized hotel brand name.

Property Division
The division is expected to launch Phase 2A, Desa Impian by end of February 2018. This will further enhance revenue and cash flows to the Group.

Tourism Division
The Group is cautiously confident the cost rationalization and restructuring of business and market focus for this Division will begin to show some improvement in the last quarter of Financial Year 2017/2018 and beyond. The Division will intensify actions to enhance the linkages and synergies between the Travel and Hotel Divisions to generate higher revenue.