RGB International has shared its financial results for the fourth quarter of the year, reporting a net loss of MYR166,000 (US$39,500).<\/p>\n\n\n\n\n\n\n\n
Malaysia.-\u00a0RGB International\u00a0<\/strong>has reported a decline in revenue for the fourth quarter of the year 2021 to RM56.6m (US$13.5m), down 4 per cent year-on-year. Revenue was also down when\u00a0compared to the previous quarter<\/a>\u00a0from MYR70.1m in Q3.<\/p>\n\n\n\n However, the company loss narrowed to RM166,000 (US$39,500), down from a loss of RM6.7m registered the previous year. RGB said\u00a0revenue from the company’s sales and marketing segment rose 3 per cent<\/strong>\u00a0in the fourth quarter, driven by an increase in the number of products sold and a change in product mix.<\/p>\n\n\n\n However, technical support and management revenue was down 19 per cent, mainly due to a resurgence of Covid-19 cases. Despite this, the company noted that its technical support and management division was operating more efficiently, reducing its pre-tax loss by 57 per cent in the fourth quarter.<\/p>\n\n\n\n Looking ahead, RGB expects that global economic conditions will continue to recover as mass vaccination programs roll out and borders reopen. <\/p>\n\n\n\n The company stated: “Barring unforeseen circumstances, the Group foresees a relatively stronger recovery in the gaming market than the previous year and therefore a better performance for the year 2022.”<\/p>\n\n\n\n As regards full-year revenue, it was up 13 per cent to RM216.3m. RGB International’s net loss for the year 2021 narrowed to RM7.0m, down from RM29.1m in the prior year.<\/p>\n\n\n\nMalaysia may reopen borders without mandatory quarantine in March<\/h2>\n\n\n\n