Four firms register Q4 reports, Prasac, PPWSA delay theirs
Taiwan-based garment manufacturer's GTI Cambodian head office based in Phnom Penh. KT/Siv Channa
Grand Twins International (Cambodia) Plc’s (GTI) quarterly report yesterday revealed the firm experienced a drop of 129.47 percent in profitabilty, resulting in an operating loss compared to the same period last year.
The only garment manufacturing firm listed on the Cambodia Securities Exchange reported a pre-tax loss of $275,901 for Q42020. It registered more than $1.2 million in profit during its fourth quarter in 2019.
GTI’s total revenue declined by more than 33 percent over the same period in 2019 to $119.18 million, according to the report.
In a statement, GTI said it attributed the negative quarter to the fallout of the pandemic, which severely affected purchase orders in the garment industry. It offered no forward-looking statement.
Shares of GTI fell 2.94 percent, ending its trading session at $0.81 per share
Pestech (Cambodia) Plc, which debuted on the Cambodia Securities Exchange on Aug 12 where it trades as PEPC, registered $406,000 in pre-tax profit for the quarter.
Its report said that the undertaking of engineering, construction and commissioning of electrical contracts for electrical transmission accounted for the bulk of its revenue.
Phnom Penh Commercial Bank Plc (PPCB Bank) reported a pre-tax profit of $5.77 million during the quarter.
Interest income and fees/ commissions were PPCB’s largest revenue generators at $18.78 million and $773,470, respectively. PPCB ended the quarter with $36 million in cash and a loan portfolio of $727 million.
Hattha Bank Plc, also submitted its fourth quarter report yesterday.
The bank registered an increase in its pre-tax profit of 9.7 percent over the same period last year, earning $9.3 million in the fourth quarter.
Income from interest on loans accounted for the bulk of its revenue. Hattha registered $47.26 million from loans over the period. However, expenses related to those loans cut revenue by $20.1 million. As a result, its net interest income was $27.1 million, according to the report.
Income from fees accounted for nearly $2 million of the firm’s revenue, the report said.
Hattha Bank ended the fourth quarter with $37.1 million in cash in hand and a further $28 million in reserves.
The report also showed that Hattha Bank held more than $1.28 billion of loans to clients as of Dec 31.
Prasac Microfinance Institution Plc and Phnom Penh Water Supply Authority (PPWSA) also announced about the release of their quarterly reports.
A news release issued by Prasac said that it would delay its release until the end of March because of the finalisation of the COVID-19 impact on its expected credit loss calculation assessment.
A representative from PPWSA said the firm was forced to delay its report because of the implementation of a new accounting standard.
“We are implanting the new International Financial Reporting Standard and our accountants need to verify that the data between the fourth quarter and year-end are consistent,” the representative said.
