KUALA LUMPUR (May 13): Trading of securities in AME Elite Consortium Bhd (KL:AME) has been suspended on Monday, ahead of a material announcement.
“The board of directors of the company wishes to announce that Bursa Malaysia Securities has approved the company’s request for suspension in the trading of its securities from 9am to 5pm on Monday, May 13, 2024, pending the release of a material announcement,” according to its bourse filing.
Shares of AME Elite were last traded at RM1.78, with a market capitalisation of RM1.14 billion.
AME Elite’s net profit for the third quarter ended Dec 31, 2023 (3QFY2024) surged 136% to RM21.92 million, from RM9.28 million a year earlier, mainly due to higher contributions from property development, engineering services, the property investment and management services segment, as well as a fair value gain of RM13.12 million on investment properties, arising from the sale of industrial properties to AME Real Estate Investment Trust.
Revenue for 3QFY2024 grew 31.16% to RM176.21 million, from RM134.35 million.
For the nine months ended Dec 31, 2023 (9MFY2024), AME Elite’s net profit rose 9.55% to RM67.02 million from RM61.17 million, as revenue jumped 51% to RM632.06 million from RM418.71 million.