KUB Malaysia confident of improvement
LOSS-MAKING KUB Malaysia Bhd expects to show further improvement in its second quarter results as its turnaround plan gains momentum.
“You will see after the first quarter results some of the improvements,” KUB chief executive officer Izham Yusoff told Business Times after delivering his keynote address at a seminar in Kuala Lumpur yesterday.
Izham was speaking as the vice chairman of the Malaysian Franchise Association (MFA) at the seminar themed “Franchising and Licensing — The Malaysian Perspective”.
For the first three months ended March 2006, KUB narrowed its net loss to RM4.57 million from RM6.06 million a year earlier.
KUB posted a net loss of RM38.87 million in the financial year ended December 31 2005.
The company last month disclosed its plan to sell non-core business assets which was one of the five strategic thrusts formulated to raise funds, trim losses and bring the group back to profitability.
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