OSK Ventures International's Q4 profit falls 62.7% on lower net fair value gain

PETALING JAYA: OSK Ventures International Bhd (OSKVI) reported a 62.7% slump in net profit to RM1.98 million for the fourth quarter ended December 31, 2017 compared with RM5.31 million in the same quarter a year ago, due to lower net fair value gain on financial instruments.
Revenue also fell 5.6% from RM22.68 million to RM21.4 million.
The group has proposed to declare a final dividend of 5 sen per share for the quarter under review.
OSKVI's full-year net profit, however, jumped more than three times from RM8.37 million to RM31.21 million, while revenue almost doubled from RM49.91 million to RM95.36 million.
For FY18, the group said it will continue to seek for good investment opportunities to be added to both its private and public investment portfolios.
"We expect to increase our private equity/venture capital investments portfolio with new deals or additional injections of funds into our existing investments for expansion purposes"
On the public investment portfolio, OSKVI noted that it will continue to pursue good investment leads while remaining cautious in view of the increasing share prices, which have led to record performances in many leading global stock markets since the second half of 2017.
OSKVI's share price rose 2 sen or 3.3% to close at 63 sen on some 76,900 shares traded.