In line with the lower revenue, selling and distribution expenses fell to RM1.8 million from RM3 million a year ago.
SINGAPORE (May 8): Capital World, the property developer formerly known as Terratech Group, reported earnings of RM19.2 million ($6.5 million) for the 3Q ended March, down half from its earnings of RM38.4 million a year ago due to lower revenue and higher expenses.
Revenue for the quarter fell 42% to RM43.5 million from RM74.6 million in 3Q17 due to a lower incremental percentage of completion (POC) for Capital 21, the retail podium component of the group’s mixed development in Johor, Malaysia).
