GLONGHUI announced on December 5 | RIMBACO (01953.HK) announced that the Group is expected to record a profit of no less than RM20 million for the year ended October 31, 2023, while the profit attributable to company owners for the year ended October 31, 2022 was approximately RM200,000.

The increase in profit attributable to company owners for the year ended October 31, 2023 is mainly due to the year ended October 31, 2023, compared to the year ending October 31, 2022 (i) the relatively lower sales cost of a new large-scale fast track project; (ii) the increase in time deposit interest and time deposit interest rates from additional time deposits; (iii) fees charged on behalf of subcontractors for procurement materials; and (iv) the increase in profit from the sale of fixed assets.