Performance Review
The Group’s continuing operations reported a pre-tax profit of RM124.31 million for the twelve months ended 31 December 2009, compared to a pre-tax profit of RM112.80 million for the twelve months ended 31 December 2008.

Manufacturing Division reported lower profits compared to the previous year mainly due to higher material costs in the current year under review, but remained the highest contributor for the Group.

Construction Division reported lower profits as the results for twelve months ended 31 December 2009 no longer include the gain and results of the profit-making subsidiaries which were disposed of in July 2008. However, the recovery of costs for a major completed project contributed significantly to Construction Division’s results.

Construction Materials Division reported significantly higher profit than the previous corresponding year, benefiting from increased sales revenue mainly due to the Federal Government’s spending on rural roads under the economic stimulus packages, coupled with lower material costs.

The soft property market in Sarawak continues to affect the performance of the Property Division.

The improved stock market with the higher trading turnover has helped an associated company in the stock broking/investment banking industry to improve its performance.

The associated company in steel fabrication and manufacturing of steel pipes industry reported much better results compared to the previous year due to the significant improvement in its steel water pipes business.

Segmental Results