ACE Market-bound Binasat Communications posts RM1.53m net profit in Q1

PETALING JAYA: Binasat Communications Bhd, which is en route for a listing on the Ace Market of Bursa Malaysia on Jan 8, 2018, posted a net profit of RM1.53 million for the first quarter ended Sep 30, 2017.
Its first-quarter revenue stood at RM10.2 million.
In a filing with Bursa Malaysia, the telco services provider said the group is expected to benefit from the future plans and strategies as disclosed in its prospectus dated Dec 13, 2017.
"These include building a new teleport facility, enhancing our operations and maintenance service and fiber optic installation and commissioning capability and sourcing for business opportunities in Asean countries, particularly Vietnam, Myanmar and Laos."
Barring unforeseen circumstances, Binasat expects its financial performance for the current year to be satisfactory.