KUALA LUMPUR, Nov 27 (Bernama) -- TRC Synergy Berhad
('TRCS' or 'the Group' TRC, Stock Code: 5054) today announced that the Group had achieved a Net Profit of RM5.74 million on the back of RM190 million in Revenue for its third quarter of 2020 ("Q3 2020").
"For the Q3 2020 ended 30 September 2020, the Group's net profit accelerated to RM5.74 million from the RM0.27 million, represents a hefty 2,000% higher year-on-year ("YoY") attributed to low base effect while the Group's revenue recorded 19% lower YoY amid the RMCO, reflects the Group's sustainability and resiliency even under the severe economic scenario brought by the Covid-19 Pandemic, partly due to positive contribution arising from favourable foreign currency movement, said Tan Sri Dato' Sri Sufri Bin Hj. Mohd Zin, the TRC Synergy Berhad Group Managing Director".
"Premised the encouraging news flow on vaccines front, which is expected to spur confidence in economic recovery narrative worldwide, we will continue to forge forward with our existing projects implementation and execution while constantly seeking out new business opportunities to further entrench our industry positioning. Last but not least, let's not forget our priority in protecting the safety and wellbeing of our employees from this pandemic".
The Group's earnings and profits for first 3 as well as 9 months of FY2020 vs FY2019
shall be as follows:
"Barring any unforeseen circumstances, we are confident to continue delivering sustainable performance in the coming financial years", Tan Sri Dato' Sri Sufri added. About TRC Synergy Berhad
Listed on Main Market of Bursa Malaysia Securities Berhad in 2002, TRC Synergy's roots can be traced back to 1980s as a small-time contractor, and had since over the years embark on various large and medium scale construction jobs for public as well as private sectors. To date, the Group had completed couple of billions value of contracts, being a key strategic player in infrastructure development specialise in rail, roads, highways, buildings, etc with its businesses complement by property development in Malaysia as well as hospitality and property development in Australia.
For more information, please visit: http:/www.trc.com.my/SOURCE: TRC Synergy Berhad
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Name: Nor Rafidah @ Moya Mansor