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November 30, 2007 |
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MBF HOLDINGS: Earns MYR25.7 Mil. in 3rd Qtr. Ended Sept. 30 MBF Holdings Berhad posted profit after tax of MYR25.7 million in the third quarter ended September 30, 2007, lower by MYR52 million compared with the recorded profit after tax of MYR78 million in the second quarter of 2006. The company's revenue increased by MYR78 million from the MYR379.68 recorded in the third quarter of 2006 to MYR458.45 million in the third quarter of the current year. As of September 30, 2007, the company's balance sheet showed MYR1.84 billion in total assets and MYR1.45 billion in total liabilities, resulting in a shareholders' equity of MYR392 thousand. Headquartered in Kuala Lumpur, Malaysia, MBf Corporation Berhad is principally involved in promoting and selling property, club and timeshare memberships; leasing factoring facilities, credit cards, consumer financing and related products; and property development. Other activity include investment holding. The Group operates in three main areas, namely: Malaysia, Indonesia, and Hong Kong and Taiwan collectively. The Group's principal activities are mainly operated in Malaysia except for the credit card business, which is carried out in Indonesia. The Group has no significant operations in Hong Kong and Taiwan other than certain residual assets from a subsidiary that has since been liquidated in Taiwan. The Company is classified under Bursa Malaysia Securities Berhad's Practice Note 17 category and is required to formulate a plan to raise its shareholders' equity to avoid getting delisted. |
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