EASTLND

Quarterly rpt on consolidated results for the financial period ended 31/12/2004

Amended Announcements
Please refer to the earlier announcement reference number: CM-050223-38531

FURQAN BUSINESS ORGANISATION BERHAD

Quarterly report for the financial period ended

31/12/2004
Quarter4
Financial Year End31/12/2004
The figureshave not been audited

Remarks :
For the financial year ended 31 December 2004, the Group achieved an operational unaudited profit before tax of RM5.3 million. However, the Group recorded a loss before tax of RM198.6 million for the current quarter compared to profit before tax of RM0.88 million for the preceding quarter and loss before tax of RM1.23 million for the previous year's corresponding quarter. This is mainly due to the goodwill written off of RM198.6 million.

The Group's goodwill was derived mainly from the acquisitions of Austral Amalgamated Berhad and its subsidiaries and from the amounts due from the unconsolidated subsidiaries. The Board is of the opinion that going forward the writing off exercise for the goodwill is a prudent exercise and would be in the best interest of the Group as it will reflect the true value of the Group's assets. Nevertheless, the net tangible asset per share of the Group has improved to 52 sen (2003 : 48 sen).

The Board of Directors wishes to reiterate that should the effects of the writing off of the goodwill be excluded, the Group remains profitable with an annual unaudited profit before tax of RM5.3 million.

SUMMARY OF KEY FINANCIAL INFORMATION
31/12/2004


INDIVIDUAL PERIOD
CUMULATIVE PERIOD
CURRENT YEAR QUARTER
PRECEDING YEAR CORRESPONDING QUARTER
CURRENT YEAR TO DATE
PRECEDING YEAR CORRESPONDING PERIOD
31/12/2004 
31/12/2003 
31/12/2004 
31/12/2003 
 
 
 
 
RM'000
RM'000
RM'000
RM'000
1Revenue
25,912
19,500
72,000
53,601
2Profit/(loss) before tax
-198,616
-1,232
-193,324
6,086
3Profit/(loss)
after tax and minority
interest
-198,808
83
-194,373
5,086
4Net profit/(loss) for
the period
-198,808
83
-194,373
5,086
5Basic earnings/(loss) per share (sen)
-48.25
0.02
-47.17
1.23
6Dividend per share (sen)
0.00
0.00
0.00
0.00



AS AT END OF CURRENT QUARTER
AS AT PRECEDING FINANCIAL YEAR END
7
Net tangible assets per share (RM)

0.5200
0.4800

Note: For full text of the above announcement, please access KLSE Web site at www.klse.com.my



Announcement Info

Company NameFURQAN BUSINESS ORGANISATION BERHAD  
Stock Name FBO    
Date Announced29 Mar 2005  
CategoryFinancial Results
Reference NoCM-050329-55840