KUALA LUMPUR: Taliworks Corporation, a Malaysian water management company, said Tuesday its third quarter net profit fell 49% on year mainly due to absence of toll compensation from government and unrealised losses on foreign exchange.
Net profit for the three months ended Sep. 30 was 9.95 million ringgit ($2.42 million) compared to 19.51 million ringgit a year earlier, the company said in an exchange filing. Quarterly revenue slipped 11.3% to 74.31 million ringgit from 83.80 million ringgit a year earlier.
Taliworks will “focus on mature operational cash-generating utilities or infrastructure businesses” to generate additional income and cash flow, it said.
