TAFI Industries Bhd reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2012. For the quarter, the company reported revenue of MYR 7,999,000 compared to MYR 12,140,000 a year ago. Loss from operations was MYR 360,000 compared to MYR 260,000 a year ago. Loss before taxation was MYR 234,000 compared to MYR 121,000 a year ago. Loss attributable to owners of the company was MYR 209,000 or 0.27 sen per basic share compared to profit attributable to owners of the company of MYR 430,000 or 0.55 sen per basic share a year ago. The decrease in revenue was mainly due to decrease of export sales by 2% and local project sales had decreased by 32%. The higher loss before tax is primarily due to lower sales volume; increase of raw material cost and lower gain on foreign exchange. For the year, the company reported revenue of MYR 36,353,000 compared to MYR 42,044,000 a year ago. Loss from operations was MYR 2,121,000 compared to MYR 1,303,000 a year ago. Loss before taxation was MYR 1,595,000 compared to MYR 724,000 a year ago. Loss attributable to owners of the company was MYR 1,667,000 or 2.15 sen per basic share compared to loss attributable to owners of the company of MYR 8,000 or 0.01 sen per basic share a year ago. The decrease in revenue was mainly due to reduction on the local sales. The increase in loss before tax due to increase of raw material cost; lower sales volume; and increase of overheads although had benefited from the gain on foreign exchange.

TAFI Industries Bhd announced resignation of Mr. Terk Yew Tee as Executive Director with effective from December 31, 2012. Terk Yew Tee was appointed to the TAFI Board on 26 November 2004 and is presently the Executive Director.

TAFI Industries Bhd announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2012. For the quarter, revenue was MYR 9,015,000, loss before tax was MYR 111,000 and loss for the period attributable to equity holders of the parent was MYR 128,000 or MYR 0.17 per basic share against revenue of MYR 10,254,000, loss before tax of MYR 468,000 and loss attributable to equity holders of the parent of MYR 382,000 or MYR 0.49 per basic share for the same period a year ago. Loss from operating was MYR 254,000 against MYR 609,000 a year ago. The lower loss before tax is primarily due to the more favorable sales product mix, lower overheads cost and increased gain on foreign exchange. For the nine months, revenue was MYR 28,354,000, loss before tax was MYR 1,361,000 and loss for the period attributable to equity holders of the parent was MYR 1,458,000 or MYR 1.88 per basic share against revenue of MYR 29,904,000, loss before tax of MYR 603,000 and loss for the period attributable to equity holders of the parent of MYR 438,000 or MYR 0.56 per basic share for the same period a year ago. Loss from operating was MYR 1,761,000 against MYR 1,043,000 a year ago. Net cash generated from operating activities was MYR 755,000 against net cash used in operating activities of MYR 91,000 a year ago. Purchase of property, plant and equipment was MYR 161,000 against MYR 1,548,000 a year ago.