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Samudra’s Profit Boosted by Debt Waiver


Kejuruteraan Samudra Timur Berhad (Samudra) recently reported more than eight times surge in its half yearly net earnings ended December 2012 to RM10.5 million or 7.3 sen per share.  The main reason behind the jump in profit is attributed to recognition of waiver of principal sum and other amounts due totaled RM7.99 million pursuant to the settlement agreement of its CLO Facility.  The net asset per share of Samudra improved significantly to 26.3 sen on the back of such gain. To read the rest of the article, you must Login

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