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December 11, 2007 |
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TANCO HOLDINGS: Incurs MYR12MM Net Loss in Qtr. Ended Sept. 30 Tanco Holdings Berhad has incurred a net loss of MYR12.04 million for the quarter ended September 30, 2007, compared with the MYR10.55-million net loss recorded for the same period in 2006. Revenues for the third quarter totaled MYR5.85 million, a decrease from the MYR3.30 million recorded in the third quarter of 2006. As of September 30, 2007, the company's balance sheet showed MYR545.68 million in total assets and MYR529.95 million in total liabilities, resulting in a shareholders' equity of MYR15.73 million. Headquartered in Selangor Darul Ehsan, Malaysia, Tanco Holdings Berhad -- http://www.tancoresorts.com/ -- operates resort, golf and marina clubs and provides management services. Its other activities include provision of exchange services in relation to vacation ownership schemes; property holding and development; provision of consultancy services; money lending business; travel and tour agent; multimedia related business; and investment holding. The Group carries out its operations in Malaysia, the British Virgin Islands, New Zealand and Mauritius. The company is a Practice Note 17 company in respect of the Company's continuance as a going concern in its audited accounts for the year ended 31 December 2004. As an affected listed issuer, the Company is required to implement a regularization plan to avoid delisting. |
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