RGB International posts revenue of US$21.1m for Q3
Revenue was down 44.7 per cent in year-on-year terms.
Malaysia.- RGB International (RGBI) has shared its financial results for the third quarter of the year. Revenue was MYR94.2m (US$21.1m). That’s a decline of 44.7 per cent in year-on-year terms and 5.4 per cent sequentially. Some MYR66.3m (US$14.8m) came from sales and marketing of products, down 51.8 per cent from the same period last year.
Revenue from the technical support and management segment for the period fell by 16.5 per cent year-on-year to MYR26.7m (US$6m). Revenue from engineering services was down 3.9 per cent year-on-year to MYR487,000 (US$109,000).
The company reported a profit attributable to shareholders of MYR19.2m (US$4.3m), down 26.8 per cent compared to last year but up 1.6 per cent sequentially. The company’s earnings before interest, taxation, depreciation, and amortisation (EBITDA) declined by 31.6 per cent year-on-year and 12.8 per cent quarter-on-quarter to MYR27.2m (US$6.1m).
RGB has declared a third interim single-tier dividend of MYR0.006 (US$0.001) per share, along with a special interim single-tier dividend of MYR0.012 (US$0.003) per share for the financial year ending December 31. Payment will be made on December 31. Earlier this year, the company distributed two dividends, each amounting to MYR0.006 per share.
RGB said its prospects “remain robust, bolstered by the promising market conditions, especially in … the Philippines”. In August, the company announced that its wholly-owned subsidiary RGBL finalised an agreement to lease 432 electronic gaming machines (EGMs) and related accessories to 18 casinos in the Philippines. The agreement is an amendment to an original agreement established in 2019.
No further action in RGB International bribery case
In October, RGBI reported through a company filing that its managing director, Dato’ Seri Chuah Kim Seah, faces no further action by authorities in Malaysia in connection to a political bribery scandal. It says the matter has been resolved.
Last year, media reported that certain political leaders were being investigated by Malaysia’s Anti-Corruption Commission for purportedly receiving funds from gambling companies ahead of state elections. RGBI refuted the claims and pledged full cooperation with the investigation. It also stated that Chuah Kim Seah was also fully cooperating with Malaysian authorities.
In its recent filing, RGB said: “The group adopts a zero-tolerance approach towards bribery or corruption and upholds the highest standard of compliance as set out in the group’s anti-bribery and corruption policy.”
