[TAMBUN INDAH LAND BHD，房地产业的前景仍然充满挑战]
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The current quarter's revenue and profit before tax of RM40.08 million and RM16.93 million represented a 49.6% decrease in revenue and 45.1% decrease in profit before tax over the same quarter of the preceding year.
Property development & property management:
The lower revenue in the current quarter as compared to the same quarter of the preceding year was mainly due to fewer on-going projects, with the Group adopting a cautious approach given the overall market condition. The Group recorded new property sales of RM22 million in the current quarter (same quarter of preceding year 2017: RM36.18 million).
The increase in revenue was mainly derived from additional rental received from newly completed investment properties.
Compared to the immediate preceding quarter, revenue and profit before tax decreased by 33.5% and 19.0% respectively. The lower numbers were mainly due to fewer on-going projects and lower revenue recognition as a few projects were nearing completion and handover. Despite a lower revenue in the current quarter of RM40.08 million which is 33.5% lower than that of the immediate preceding quarter, profit before tax was only lower by 19.0% on the account of the better performance against budgeted cost for recent completed projects.
The outlook for the property industry continues to be challenging.
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