PETALING JAYA: Oriental Interest Bhd
’s net profit fell 22.5% to RM11.70mil in the first quarter ended Nov 31, 2021 (Q1’FY22) from RM15.09mil a year ago mainly dragged by lower revenue from both the property development and general construction segments.
In a filing with Bursa Malaysia, the group said its revenue also dropped around 12% to RM76.91mil in the quarter compared to RM87.47mil in the corresponding period a year ago.
Oriental said revenue from the property development segment fell by 14% which resulted in a 30% decrease in pre-tax profit, principally due to the completion of some projects during the reporting quarter.
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