April 29, 2017 4:19 AM ET

Chemicals

Company Overview of Luster Industries Bhd

Company Overview

Luster Industries Bhd., an investment holding company, manufactures and sells precision plastic parts and components in Malaysia, Singapore, Australia, the United Kingdom, Cambodia, and internationally. It is also involved in the precision engineering work; manufacture of die-casting components and plastic injection molded parts; sub-assembly of plastic parts and the provision of related services; operation of lottery; and letting of property. The company was incorporated in 1986 and is based in Sungai Petani, Malaysia.

Plot 36 & 37

Jalan PKNK Utama

Kawasan Perusahaan Sungai Petani

Sungai Petani,  08000

Malaysia

Founded in 1986

Phone:

60 4 441 7980

Fax:

60 4 442 8805

Key Executives for Luster Industries Bhd

Luster Industries Bhd does not have any Key Executives recorded.

Luster Industries Bhd Key Developments

Luster Industries Bhd Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2016; Reports Impairment Charges for the Fourth Quarter of 2016

Luster Industries Bhd reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2016. For the quarter, the company reported revenue of MYR 28,099,000 compared to MYR 31,038,000 a year ago. This was mainly due to the reduction in sales to customers in machining services in Manufacturing sector. Loss from operating activities was MYR 24,916,000 compared to MYR 12,261,000 a year ago. Loss before taxation was MYR 24,993,000 compared to MYR 12,314,000 a year ago. This was mainly due to the written off of goodwill on consolidation of MYR 16.7 million in current quarter under review as compared to MYR 12.1 million in previous year corresponding quarter. Loss for the year attributable to owners of the parent was MYR 24,564,000 or 1.42 sen per basic share compared to MYR 14,339,000 or 0.86 sen per basic share a year ago. For the year, the company reported revenue of MYR 113,886,000 compared to MYR 119,015,000 a year ago. Loss from operating activities was MYR 24,100,000 compared to MYR 14,217,000 a year ago. Loss before taxation was MYR 24,311,000 compared to MYR 14,451,000 a year ago. Loss for the year attributable to owners of the parent was MYR 24,517,000 or 1.42 sen per basic share compared to MYR 17,868,000 or 1.07 sen per basic share a year ago. Net cash used in operating activities was MYR 8,095,000 compared to MYR 493,000 a year ago. Purchase of property, plant and equipment was MYR 2,039,000 compared to MYR 2,357,000 a year ago. For the quarter, the company reported impairment of property, plant and equipment of MYR 1,480,000 compared to MYR 960,000 a year ago. Goodwill written off was MYR 16,659,000 compared to MYR 12,137,000 a year ago.

Luster Industries Bhd Announces Resignation of How Soong Khong as Executive Managing Director

Luster Industries Bhd announced the resignation of Mr. How Soong Khong as Executive Managing Director due to personal reason. Date of change was December 14, 2016.

Luster Industries Bhd Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2016

Luster Industries Bhd announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2016. For the quarter, the company reported revenue of MYR 29,073,000 against MYR 27,676,000 a year ago. Loss from operating activities was MYR 422,000 against MYR 440,000 a year ago. Loss before taxation was MYR 422,000 against MYR 495,000 a year ago. Loss attributable to owners of the parent was MYR 624,000 or 0.04 sen per basic share against MYR 1,461,000 or 0.09 sen per basic share a year ago. For the nine months, the company reported revenue of MYR 85,787,000 against MYR 87,977,000 a year ago. Results from operating activities were MYR 816,000 against loss from operating activities of MYR 1,956,000 a year ago. Profit before taxation was MYR 682,000 against loss before taxation of MYR 2,137,000 a year ago. Profit attributable to owners of the parent was MYR 47,000 or 0.00 sen per basic share against loss of MYR 3,529,000 or 0.21 sen per basic share a year ago. Net cash used in operating activities was MYR 5,953,000 against cash flow from operating activities of MYR 132,000 a year ago. Purchase of property, plant and equipment was MYR 1,120,000 against MYR 831,000 a year ago.

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
July 5, 2016
New Harvest Asia Investment Limited
Merger/Acquisition
May 6, 2016
Luster Industries Bhd, Factory known as Lot 59, Bakar Arang Industrial Estate, Kedah
 

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