The Group’s automotive segment reported RM3.12b revenue in its 2Q22, surging +57.3% yoy and +1.5% qoq.
Group pre-tax profit increased by 82.2% to RM24.5million and strong performances by Oilfield Services and Integrated Corrosion Solution segments
Banks, Planters, Reits and selected manufacturing entities (technology and F&B) reported a solid set of earnings
Notably, net profit income of Pavilion KL and Elite Pavilion Mall grew 57%yoy and 198%yoy respectively as footfall at the malls recovered strongly following reopening of all economic sectors.
With the less than sanguine US outlook, the local economy is anticipated to continue recovering and corporate earnings are expected to improve likewise