In its filings with Bursa Malaysia, Yong Tai said its wholly-owned subsidiary YTB Impression Sdn Bhd terminated the deal due to non-fulfilment of the condition precedent as stated in clause 3.1(c) of the joint development agreement. Yong Tai fell half a sen to close at 32.5 sen yesterday.
KUALA LUMPUR: BCM Alliance Bhd
's net profit doubled to RM2.42mil in the second quarter ended June 30, 2018 from RM1.19mil a year ago, boosted by its medical devices and healthcare products units.
It announced on Tuesday its revenue rose 55.06% to RM26.66mil from RM17.20mil a year ago. Earnings per share were 0.57 sen compared with 0.28 sen.
BCM Alliance's core businesses are distribution of equipment for the commercial laundry equipment, medical devices and healthcare products industries.
Managing director Liaw Chong Lin said the higher revenue was due to more orders for the medical devices from existing and new customers.
In Q2 FY18, revenue generated from commercial laundry equipment business slipped to RM9.11mil from RM9.87mil a year ago. Revenue from medical devices business increased from RM7.33mil to RM15.92mil.
Its healthcare products business segment contributed RM1.64mil in revenue in Q2, FY2018 due to good demand of its core products Rossmax.
Liaw said as for the commercial laundry equipment business's revenue declined mainly due to lower demand in the third and fourth weeks of May 2018 (viewed as transition period) in response to the implementation of zero-rated Goods and Services Tax in June.
For the first half ended June 30, 2018 (1HFY2018), BCM Alliance’s revenue rose 36% to RM51.04mil from RM37.51mil due to increase in revenue contribution from medical devices and commercial laundry equipment business segments.
The increase in revenue contribution from medical devices business segment was mainly due to strong positive demand for the new medical devices and equipment following its new distributorship secured.
Its net profit rpse 87% to RM5.92mil from RM3.16mil recorded a year ago mainly due to higher revenue generated from commercial laundry equipment and medical devices business segments, new healthcare products business segment in the first half.
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