| SYF Resources posts RM39m net profit in 1Q, thanks to debt waiver |
| Written by Joseph Chin of theedgemalaysia.com |
| Friday, 09 December 2011 19:25 |
KUALA LUMPUR (Dec 9): SYF RESOURCES BHD [] posted net profit of RM39.24 million in the first quarter ended Oct 31, 2011 when compared with net loss of RM581,000 a year following the waiver of debts and over provision of interest. The company said on Friday its revenue was 6.3% higher at RM42.98 million compared with RM40.44 million a year ago. Its earnings per share were 43.37 sen compared with loss per share of 0.69 sen. SYF said there was a waiver of debts by scheme lenders and over provision of interest amounting to RM32.3 million and RM5.4 million respectively upon the completion of the proposed restructuring scheme on Oct 25. It also issued 102.72 million redeemable convertible secured loan stocks of 25 sen each to unsecured financial institution creditors; and 84.07 million rights shares of 25 sen each. |