RGB International posts revenue of US$44.6m for Q1
Revenue was up 120.8 per cent in year-on-year terms.
Malaysia.- RGB International (RGBI) has shared its financial results for the first quarter of the year. Revenue was MYR210.1m (US$44.6m), up 120.8 per cent when compared to last year and up 93.4 per cent quarter-on-quarter.
The company reported a profit attributable to shareholders of MYR22.2m, compared to MYR10.5m a year earlier. In the last quarter of 2023, RGB had posted a loss of MYR26.8m.
The company’s earnings before interest, taxation, depreciation, and amortization (EBITDA) rose by 52.5 per cent year-on-year to MYR36.6m. The figure was up 165.2 per cent when compared to the previous quarter. Revenue from technical support and management rose by 30.4 per cent to MYR33.4m, while engineering services revenue rose 10.3 per cent to MYR588,000.
RGBI stated that the group’s prospects “remain robust, bolstered by the promising market conditions, especially in the Philippines.”
See also: RGB International subsidiary acquires share in Philippine slot machines
Earlier this week, RGBI announced a series of changes in its board. Chuah Eng Meng has been appointed principal officer. His sister, Chuah Hui Jing, has been named executive director. Both are children of Dato’ Seri Chuah Kim Seah, the managing director and a major shareholder of RGBI.
The company has also reported that senior vice president, of corporate and regulatory compliance Ganaser Kaliappen, a former Malaysian diplomat who joined the group in 2004, has become an executive director. Surinder Singh, a Malaysian lawyer specialising in civil and litigation work, has become an independent non-executive director.
