{"id":3101,"date":"2026-01-20T17:47:33","date_gmt":"2026-01-20T17:47:33","guid":{"rendered":"https:\/\/malaysian-business.com\/wptest\/2026\/01\/20\/wct-posts-rm17-million-profit-after-taxation\/"},"modified":"2026-01-23T17:46:20","modified_gmt":"2026-01-23T17:46:20","slug":"wct-posts-rm17-million-profit-after-taxation","status":"publish","type":"post","link":"https:\/\/malaysian-business.com\/portal\/2026\/01\/20\/wct-posts-rm17-million-profit-after-taxation\/","title":{"rendered":"WCT Posts RM17 million Profit After Taxation"},"content":{"rendered":"

PETALING JAYA, 25 June 2020 <\/b>\u2013 WCT Holdings Berhad (\u201cWCT\u201d or \u201cthe Group), a leading engineering\u00a0<\/span>and construction as well as property company, announced today that it has delivered a profit after taxation\u00a0<\/span>of RM17 million for its first financial quarter ended 31 March 2020 as compared to RM39 million in the\u00a0<\/span>preceding year\u2019s corresponding quarter. After taking into consideration the allocation to non-controlling\u00a0<\/span>interests and perpetual sukuk holders, the Group registered loss attributable to equity holders of RM0.017\u00a0<\/span>million as compared to profit attributable to equity holders of RM40 million recorded in the financial quarter\u00a0<\/span>ended 31 March 2019.\u00a0<\/span><\/p>\n

The Group\u2019s revenue for the quarter was lower at RM363 million as compared to RM515 million in the\u00a0<\/span>preceding financial year\u2019s corresponding quarter. The Group\u2019s Engineering and Construction Division was\u00a0<\/span>the primary contributor to the Group\u2019s performance as the Division accounted for 67% of the consolidated\u00a0<\/span>revenue, backed by its outstanding order book comprising a mix of civil and infrastructure works as well as\u00a0<\/span>building construction jobs.\u00a0<\/span><\/p>\n

The Group\u2019s Engineering and Construction Division recorded an operating profit of RM7 million (Q1\u00a0<\/span>FY2019: RM33 million) on the back of revenue of RM241 million (Q1 FY2019: RM378 million). The lower\u00a0<\/span>revenue and operating profit were mainly attributable to slower progress of work done for some construction\u00a0<\/span>jobs and revisions in the expected margins of certain projects.\u00a0<\/span><\/p>\n

Dato\u2019 Lee Tuck Fook, Group Managing Director of WCT Holdings <\/b>said, \u201cOur Engineering and\u00a0<\/span>Construction Division is expected to continue to be the primary contributor to our earnings. The division\u00a0<\/span>recently secured a building construction job worth RM1.2 billion for the superstructure works for Phase 2 of\u00a0<\/span>Pavilion Damansara Heights in March 2020, further strengthening our outstanding order book of\u00a0<\/span>approximately RM6 billion.\u201d\u00a0<\/span><\/p>\n

The Group\u2019s Property Development Division recorded a lower revenue and operating profit of RM74 million\u00a0<\/span>(Q1 FY2019: RM85 million) and RM24 million (Q1 FY2019: RM37 million) respectively. The revenue and\u00a0<\/span>operating profit in the corresponding period in 2019 were higher mainly due to higher revenue and profit\u00a0<\/span>arising from the sale of an undeveloped land.\u00a0<\/span><\/p>\n

Meanwhile, the Group\u2019s Property Investment and Management Division recorded lower operating profit of\u00a0<\/span>RM22 million (Q1 FY2019: RM27 million) on the back of revenue of RM48 million (Q1 FY2019: RM52\u00a0<\/span>million). Both the decrease in operating profit and revenue is mainly due to the lower contributions from the\u00a0<\/span>retail mall and hotel operations.\u00a0<\/span><\/p>\n

Dato Lee said, \u201cOur Group\u2019s performance for the current financial year has been affected by the impact of\u00a0<\/span>the Covid-19 pandemic. With the implementation of the Movement Control Order (\u201cMCO\u201d) since 18 March\u00a0<\/span>2020, there have been considerable restrictions in business activities across all our businesses with lower\u00a0<\/span>level of activities at our construction sites due to stringent preventive measures and a significant drop in\u00a0<\/span>demand for our products and services, including lower sales of property units, decline in consumer spending\u00a0<\/span>and shopper footfall in our retail malls as well as temporary suspension of our hotel operations.\u201d\u00a0<\/span><\/p>\n

Dato Lee added, \u201cThe Group will focus on prudent financial management and driving our core business\u00a0<\/span>activities to mitigate the impact of the decline in revenue. The Group\u2019s Engineering and Construction\u00a0<\/span>Division will continue to focus on project execution to deliver sustainable level of financial results, while the\u00a0<\/span>Group\u2019s Property Development Division will continue its efforts to reduce unsold properties by leveraging\u00a0<\/span>on new technologies and marketing channels to drive future sales as well as divesting undeveloped lands\u00a0<\/span>to improve our operating cashflows. For our retail malls, we will continue to extend support to our tenants\u00a0<\/span>to ride through this challenging period. We will also introduce new promotions and activities to drive higher\u00a0customer footfall and increase consumer spending, while observing preventive guidelines issued by the\u00a0<\/span>local authorities to safeguard the safety and wellbeing of our tenants, shoppers and employees.\u201d\u00a0<\/span><\/p>\n

\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

PETALING JAYA, 25 June 2020 \u2013 WCT Holdings Berhad (\u201cWCT\u201d or \u201cthe Group), a leading engineering\u00a0and construction as well as property company, announced today that it has delivered a profit after taxation\u00a0of RM17 million for its first financial quarter ended 31 March 2020 as compared to RM39 million in the\u00a0preceding year\u2019s corresponding quarter. After taking […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[34],"tags":[],"class_list":["post-3101","post","type-post","status-publish","format-standard","hentry","category-general"],"_links":{"self":[{"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/posts\/3101","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/comments?post=3101"}],"version-history":[{"count":1,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/posts\/3101\/revisions"}],"predecessor-version":[{"id":3581,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/posts\/3101\/revisions\/3581"}],"wp:attachment":[{"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/media?parent=3101"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/categories?post=3101"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/tags?post=3101"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}