Ajiya Berhad, registered a profit after tax (PAT) of RM16.8 million in the third quarter ended 31 August 2018 (3QFY2018), which is 14 times higher than the RM1.2 million achieved a year ago.
Ajiya’s revenue also improved by 4 per cent to RM96.2 million, as compared to RM92.2 million in the corresponding period last year.
For its nine months ended 31 August 2018 (9MFY2018), Ajiya recorded a PAT of RM22.8 million, 92 per cent increase from the RM11.8 million achieved a year ago.
The Company’s stellar financial performance in its 3QFY2018 was mainly due to the higher demand for the Group’s metal products.
Additionally, the increase in PAT was due to the gain on disposal of property in Thailand and realisation of foreign currency exchange gain from the repayment of loan from Thai Ajiya Safety Glass Co. Ltd to Ajiya of RM6.877 million and RM4.6 million, respectively.
“The direction of Ajiya going forward will be to continue focusing on its fundamentals, as well as roll out initiatives to strengthen and diversify the income stream of the Company.
“The Group is strongly poised to take advantage on our long-term strategy to be a total solutions provider through our Ajiya Green Integrated Building Solutions (AGIBS),” said Ajiya Berhad managing director, Datuk Chan Wah Kiang.
“Our traditional business of providing building materials such as our metal and glass products will put us in good stead as part of a total solutions provider.
“In the same vein, our traditional business will merge well with our current business venture,” Chan added.
AGIBS is a patented Industrialised Building System (IBS) that provides the construction industry with sustainable and fully-integrated building solutions to overcome manpower constraint, shorten construction time and reduce operating costs.
It comprises of 8 series of housing components, namely Light Weight Metal Wall Frames, Metal Roofing & Awning, Metal Light Weight Roof Trusses, Metal Doors & Windows Frames, Metal Structural Floor Decking, Metal Ceilings, Louvres & Sunshades and Safety Glass & Sash.
With the adoption of AGIBS, the construction and delivery time are also greatly reduced as average conventional housing project usually takes up to 24 months of construction period, whereas AGIBS will only take 8 months to complete.