KUB ... Mar 09

KUB MALAYSIA finally turned around after eight years. The Group managed to turn in a Net Profit of RM39.4m or 6.18 sen a share for FYE Dec 31, 2008.

The Net Profit was in part due to a one-off gain on disposal of assets/investments totalling RM21m." .... Operationally, this is the first time KUB MALAYSIA made profits since listed on BURSA MALAYSIA in 1997 ...." said Group MD - MOHD NAZAR SAMAD in aN EXCHANGE filing on Feb 27, 2009.

The Group's Revenue in FY08 increased by 50% to RM877.3m from RM585.5m in FY07, when it posted a Net Loss of RM88.8m. KUB said the growth in revenue was contributed by its newly aligned core businesses of information and communications technology (ICT), properties, engineering and construction (PEC) and food related (FR).

Revenue for its ICT sector in 2008 jumped to RM252.3m from RM72.6m due to an increase in contracts awarded to its subsidiaries, KUB TELECOMMUNICATIONS and its newly 70%-acquired unit - EMPIRICAL SYSTEMS (M) sb. Operating Profit for the ICT sector soared to RM23.4m from a Loss of RM40m previously.

Revenue for its Properties & Engineering Construction operations increased by more than 50% to RM149.2m, while its Food Division eked out a 4% Revenue improvement.

MOHD NAZAR said 2008 was a landmark year for the Group. " .... Our turnaround programme has borne fruits within one year as planned. We have strong management team, dedicated staff and supportive board members to realise the plan despite gloomy economy ....". He added that the Group intended to stay focused on its existing strategies as it had spent effective management time identifying sensitive areas for improvement aimed at higher productivity and efficiency in the long run.