Damansara Realty : DBHD POSTS RM143 MIL IN REVENUE, FOCUSES ON PLAN TO SAFEGUARD FINANCIAL RESILIENCE

PRESS RELEASE

DBHD POSTS RM143 MIL IN REVENUE, FOCUSES ON PLAN TO SAFEGUARD

FINANCIAL RESILIENCE

Kuala Lumpur, 25 November 2020- Damansara Holdings Berhad (DBhd or the Group) has posted RM143.05 million in revenue with RM11.91 million in EBITDA for the nine months period ended 30 September 2020 (Q3FY2020).

The Group's Integrated Facilities Management (IFM) segment, which includes its parking operations, recorded RM134.6 million in revenue compared to RM201.31 million recorded previously as a result of the limited movement and the ensuing nationwide lockdown due to the COVID-19 pandemic outbreak.

"No one could have predicted this year, but we have persevered and I believe that the plan we have put in place will be effective in safeguarding our financial resilience and sustain the Group in dealing with the economic uncertainty and market volatility," said DBhd's Group Managing Director, Azman bin Haji Tambi Chik.

"Our Property and Land Development (PLD) segment remains as our key driver of profit with the revenue contribution of RM9.97 million resulting from residential and commercial units sold in Johor Bahru and Pahang," he said.

Its Project Management Consultancy (PMC) segment has contributed RM895,561 to the Group's revenue mainly from its project management and healthcare training services.

In the same filing with Bursa Malaysia today, the Group reported a net loss of RM9.0 million for Q3FY2020, against a net profit of RM9.85 million in the same period last year.

The Group said they are focussing on identifying emerging needs and business opportunities in its three core business segments and reassessing its business model to benefit from multiple streams of income while exploring its ability to offer a broader scope of offerings and services for better cost management and operational cash flow.

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