Magna Prima Bhd proposes to declare a final single tier exempt dividend of 1.5 sen per share at an annual general meeting to be held on 30 May 2013.

Magna Prima Bhd reported unaudited consolidated earnings results for the earnings results for the fourth quarter and full year ended December 31, 2012. For the quarter, the company’s revenues were MYR 150,338,000 against MYR 37,813,000 for the same period a year ago, mainly due to the One Sierra development project which was completed in the current quarter. Profit before taxation was MYR 13,699,000 against loss before taxation of MYR 8,905,000 for the same period a year ago. Profit for the period was MYR 11,061,000 against loss for the period MYR 7,981,000 for the same period a year ago. Profit attributable to equity holders of the company was MYR 11,017,000 or 3.31 sen per basic and diluted share against loss attributable to equity holders of the company of MYR 5,888,000 or 1.77 sen per basic share for the same period a year ago. For the year, the company’s revenues were MYR 196,454,000 against MYR 66,535,000 for the same period a year ago. Profit before taxation was MYR 33,873,000 against loss before taxation of MYR 12,556,000 for the same period a year ago. Profit for the period was MYR 17,636,000 against loss for the period MYR 11,436,000 for the same period a year ago. Profit attributable to equity holders of the company was MYR 17,685,000 or 5.31 sen per diluted share against loss attributable to equity holders of the company of MYR 9,622,000 or 3.13 sen per basic share for the same period a year ago. Net cash used in operating activities was MYR 66,348,000 against MYR 57,174,000 a year ago. Purchase of property, plant and equipment was MYR 49,000 against MYR 124,000 a year ago. The company proposed final single tier exempt dividend of 1.5 sen per share at par value of MYR 0.25 per share (compared to single tier exempt dividend of 1.5 sen per share at par value of MYR 0.25 per share for the same period a year ago) has been recommended for the financial year ended 31 December 2012 subject to shareholders' approval at the forthcoming Annual General Meeting.

Magna Prima Bhd reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2012. For the quarter, the company reported revenue of MYR 5,144,000 against MYR 7,432,000 for the same period last year. Loss before taxation was MYR 2,001,000 against MYR 6,700,000 for the same period last year. Loss attributable to owners of the company was MYR 9,452,000 or 2.84 sen per basic and diluted share against MYR 5,713,000 or 1.72 sen per basic and diluted share for the same period last year. For the current quarter, the group recorded lower revenue compared to the immediate preceding quarter ended June 30, 2012 mainly due to no development project was completed in the current quarter. For the nine months, the company reported revenue of MYR 46,116,000 against MYR 28,722,000 for the same period last year. Profit before taxation was MYR 20,174,000 against loss before taxation of MYR 3,651,000 for the same period last year. Profit attributable to owners of the company was MYR 6,668,000 or 2.00 sen per basic and diluted share against loss attributable to owners of the company of MYR 3,734,000 or 1.25 sen per diluted share for the same period last year. Net cash generated from operating activities was MYR 36,504,000 against net cash used in operating activities of MYR 11,441,000 for the same period last year. Purchase of property, plant and equipment was MYR 27,000 against MYR 52,000 for the same period last year.