KUALA LUMPUR (Jan 23): Guocoland (Malaysia) Bhd recorded a narrower net loss of RM12.7 million for its second quarter ended Dec 31, 2018, versus a net loss of RM16.13 million a year ago, supported by revenue recognised from the launch of its Emerald Hills project in Cheras. 

Quarterly revenue rose 12.58% to RM110.42 million from RM98.08 million in the previous year’s corresponding quarter, Guocoland said in a stock exchange filing today.

Net loss for the six-month period ended Dec 31, 2018 however widened to RM13.87 million, from RM8.37 million in the previous year’s corresponding period, as the group had recorded lower sales of completed units in its first quarter.

Revenue for the period declined 30.73% to RM188.18 million, from RM271.65 million previously.

Going forward, the group expects the domestic property market to remain lacklustre in 2019, due to continued weakness in consumer sentiment.

“The overall momentum and prospects of the property market in the next one to two years is expected to remain soft and challenging. 

“Moving forward, the group will launch its projects according to prevailing market sentiments,” it said.

Shares of Guocoland were unchanged today at 80 sen, leaving the group with a market capitalisation of RM560.37 million.