July 26, 2016 4:41 PM ET

Hotels, Restaurants and Leisure

Company Overview of Reliance Pacific Bhd

Company Overview

Reliance Pacific Berhad, an investment holding company, provides travel and tour, coach hire, and other related services in Malaysia, Australia, and internationally. The company operates through Hotel, Property, and Tourism segments. The Hotel division develops and manages hotels; manages resorts; operates and manages spa and health centre; and provides management services for hotel suites and service apartments. This division also provides property marketing and management services; and management and advisory consultancy services for hotel, property, and tourism industry. The Property division develops hotels, resorts, and properties; develops and manages tourism related projects; and oper...

Unit E-3-1

Level 3, Block E

Southgate Commercial Centre

No. 2, Jalan Dua, Off Jalan Chan Sow Lin

Kuala Lumpur,  55200

Malaysia

Phone:

60 3 2730 9969

Fax:

60 3 2730 9978

Key Executives for Reliance Pacific Bhd

Reliance Pacific Bhd does not have any Key Executives recorded.

Reliance Pacific Bhd Key Developments

Reliance Pacific Bhd Appoints Onn Kien Hoe as Independent and Non Executive Director

Reliance Pacific Bhd announced the appointment of Mr. Onn Kien Hoe as independent and non executive director of the company. Mr. Onn Kien Hoe has been involved in the auditing profession since 1988. He joined Crowe Horwath in 1994 and was in charge of the audit of listed companies and multi-national companies. He is now the Co-head of Corporate Advisory department of Crowe Horwath in Kuala Lumpur. He has extensive experience in cross border transactions involving mergers and acquisitions, listing, reverse takeovers, due diligence reviews and valuation assignments. He has been involved in transactions on international stock exchanges including London, Hong Kong, Singapore, Australia and Malaysia. Mr. Onn currently sits as an independent non-executive director of MAA Group Berhad, MAA Takaful Berhad, MAA International Assurance Ltd. and Nova MSC Berhad.

Reliance Pacific Bhd Reports Consolidated Earnings Results for the Fourth Quarter and Full Year Ended March 31, 2016; Reports Impairment of Goodwill for the Fourth Ended March 31, 2016

Reliance Pacific Bhd reported consolidated earnings results for the fourth quarter and full year ended March 31, 2016. For the quarter, the company reported revenue of MYR 45.135 million compared to MYR 55.086 million a year ago. Loss before tax was MYR 15.158 million compared to profit of MYR 0.643 million a year ago. Net loss attributable to owners of the company was of MYR 15.238 million or 1.77 sen per basic share compared to profit of MYR 0.009 million or 0.00 sen per basic share a year ago. The reduction in revenue was mainly as a result of dropped in inbound business in Singapore and Hong Kong due to slow down in tourist arrival to the respective destinations and currency fluctuation. For the year, the company reported revenue of MYR 191.187 million compared to MYR 188.741 million a year ago. Loss before tax was MYR 22.956 million compared to profit of MYR 1.786 million a year ago. Net loss attributable to owners of the company was of MYR 24.033 million or 2.80 sen per basic share compared to profit of MYR 0.601 million or 0.07 sen per basic share a year ago. Net cash flows generated from operating activities of MYR 1.839 million compared to MYR 21.346 million a year ago. Purchase of property, plant and equipment was of MYR 0.858 million compared to MYR 20.795 million a year ago. The company reported impairment of goodwill of MYR 12.321 million for the fourth quarter ended March 31, 2016.

Reliance Pacific Bhd Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended December 31, 2015

Reliance Pacific Bhd reported unaudited consolidated earnings results for the third quarter and nine months ended December 31, 2015. For the quarter, revenue was MYR 49,548,000 against MYR 48,644,000 a year ago. Loss before tax was MYR 2,983,000 against profit before tax of MYR 563,000 a year ago. Loss for the period attributable to owner of the parent was MYR 3,897,000 or MYR 0.45 per basic share against profit of MYR 175,000 or MYR 0.02 per basic share a year ago. Net assets per share attributable to ordinary equity holders of the parent were MYR 0.4009. For the nine months, revenue was MYR 146,052,000 against MYR 133,655,000 a year ago. Loss before tax was MYR 7,798,000 against profit before tax of MYR 1,143,000 a year ago. Loss for the period attributable to owner of the parent was MYR 8,795,000 or MYR 1.02 per basic share against profit of MYR 592,000 or MYR 0.07 per basic share a year ago. Net assets per share attributable to ordinary equity holders of the parent were MYR 0.4086.

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
July 8, 2016
--
Merger/Acquisition
June 6, 2016
--
Merger/Acquisition
May 16, 2016
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