27 Feb 15 – Press Release – PUC Founder Financial Year Ended 2014 PAT Surge by 714%
PUC Founder Financial Year Ended 2014 PAT Surge by 714%
PETALING JAYA, 27th February 2015 – PUC Founder (MSC) Berhad (“PUC Founder” or the “Company”), (ACE market listed, stock code: 0007), has today announced its fourth quarter result of financial year 2014. For the financial year ended 31 December 2014, there is a 714% surge in Profit After Tax (“PAT”) to RM9.83million from RM1.21million compared to financial year ended 2013.
In the filing with Bursa Malaysia today, Founder recorded total revenue of RM53.49million, an increase of 153% from RM21.13million. The higher revenue and profit after taxation is mainly due to consolidation of financial results of the enlarged PUC Founder Group after the completion of acquisition of RMA and its subsidiaries.
Group Managing Director, Mr. Cheong Chia Chieh says, “We look forward to venture into the sunrise industry of green energy industry. One of our subsidiaries has already submitted application to Sustainable Energy Development Authority Malaysia (SEDA) for the 21 years Feed-in Tariff Approval Holder Contract for 1MWp solar photovoltaic project. If successful, the company’s approach towards the green industry will bring in consistent revenue contribution to the company which will support and prepare us for our future corporate development plans.”
On 14 Jan 2015, PUC Founder has completed the acquisition of corporate office with an area of approximately 8,612 square feet worth RM5.5million at Oasis Square, Ara Damansara, which will also be the new location of the headquarters.
Kenanga Investment Bank Berhad research department came out with a technical analysis on 28 January 2015. The research opined that the share price is expected to ascend towards RM0.16, which is the 100-day Simple Moving Average (SMA) level. Taking into account today’s closing price which stands at RM0.145 would portray a 10.3% upside potential.
Founders’ shares (Bursa Code: PUC 0007) trading volume has been trending higher for the previous one month period and reach its peak, 24.65million shares on 6 February 2015. This showed that investors are interested in PUC Founder’s share.
The Board is optimistic on the prospects of the Group and expects the Group’s financial performance to be continuously positive for the coming financial year ending 2015.
Issued By: Management of PUC Founder (MSC) Berhad