By Kuala Lumpur Newsroom
KUALA LUMPUR (Feb 26) -- WCT Holdings, a Malaysia-based construction and property company, said Monday its net profit for the fourth quarter jumped more than 16-fold on year, mainly helped by higher revenue from the property development unit and other income.
Net profit for the period ended Dec. 31 stood at 59.27 million ringgit ($15.17 million) versus 3.51 million ringgit a year earlier, the company said in an exchange filing. Quarterly revenue rose 27.9% on year to 579.40 million ringgit.
"Moving forward, the Group will continue to embark on various de-gearing initiatives such a s equity fund raising as well as assets monetization which are expected to strengthen its financial position and improve its gearing level," the filing added.
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