<div class=newsTextDataWrapInner><p>KUALA LUMPUR (May 27): Stainless steel fastener maker Tong Herr Resources Bhd’s net profit soared 124.5% to RM16.5 million or 13.21 sen per share in its first quarter ended March (1QFY16), from RM7.3 million or 5.81 sen per share a year ago.</p></div>

<div class=newsTextDataWrapInner><p>The improvement in profit is due to a reclassification adjustment upon disposal of foreign operations of RM11.78 million, in relation to the completion of disposal of its subsidiary, Fuco International Ltd.</p></div>

<div class=newsTextDataWrapInner><p>Revenue dropped 10.3% to RM142.4 million, from RM158.8 million, primarily due to a fall in selling prices and slowdown in customer demand, the company said in a Bursa Malaysia filing.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>It has proposed a final single tier dividend of 10 sen per share for the year ended December 2015 (FY15).</p></div>

<div class=newsTextDataWrapInner><p>Moving ahead, Tong Herr said the general business environment remains challenging due to volatility of commodity price, foreign exchange environment and geopolitical uncertainty.</p></div>

<div class=newsTextDataWrapInner><p>“In light of that, the board will continue its efforts toward cost saving measures and improving its operational efficiency to remain competitive,” it added.</p></div>

<div class=newsTextDataWrapInner><p>The company said barring any unforeseen circumstances, FY16 continues to be challenging.</p></div>

<div class=newsTextDataWrapInner><p>Tong Herr shares closed one sen or 0.49% higher today at RM2.05, for a market capitalisation of RM254.4 million.</p></div>


KUALA LUMPUR (May 27): Stainless steel fastener maker Tong Herr Resources Bhd’s net profit soared 124.5% to RM16.5 million or 13.21 sen per share in its first quarter ended March (1QFY16), from RM7.3 million or 5.81 sen per share a year ago.

The improvement in profit is due to a reclass...

Tong Herr's net profit soars 124.5% on reclassification adjustment

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<p>Billionaire Elon Musk has held private discussions with allies about removing British Prime Minister Keir Starmer from his position before the next general election, the <i>Financial Times</i> reported on Thursday.</p>


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<p>（吉隆坡9日讯）新闻报道称，美国拟进一步限制人工智能（AI）晶片出口，以防止其落入中国和俄罗斯之手，大马科技股周四应声走低。</p>
