【NAIM 5073 交流专区】納因控股

icy97

納因本益比偏低……

2015-07-12 19:22      

砂拉越的投資者Sim問：
為何納因控股（NAIM,5073,主板產業組）的本益比（P／E）只有4.21倍和其市盈率（P／BV）只有0.49倍？ 發生了甚麼事情？業務前景如何？可否買進？目標價又是多少呢？

答：
截至2014年12月31日為止財政年，納因控股全年每股淨利取得92.99仙的高水平，其中包括脫售聯號公司部份股權而取得一次過的6千170萬令吉盈利，從而推高其盈利基礎，使其本益比及市盈率皆取得偏低標青水平的個中原因。

惟進入2015年財政年恢復正常後，該公司按季盈利大減，包括截至2015年3月31日為止首季的每股淨利跌至7.43仙（比較前期為40.44仙），與去年比較的差距很大，也使股價跟著下跌。若與去年每股淨利為基礎，使它的本益比及市盈率更顯得偏低。

業務前景方面，當該公司在今年5月26日宣佈首季業績後，興業研究在第二天對其業務表現與前景進行一點剖析可供參考。

當時，興業研究指出，該公司2015年首季業績表現令人失望，旗下全部業務領域表現皆較差勁。有鋻於此，該行將其2015至2017年的淨利預測，分別下砍24%、29%及27%，而目標價下調15%至3令吉63仙（也是全部證券研究中最高的目標價），或等於2016年財政年預測本益比的10倍水平，所以仍給它“買進”評級。

興業研究還是認為，納因控股仍是砂州蓬勃經濟發展的良好“代理”，特別是大肆發展的基建計劃、油氣領域及重工業領域等。

手握13億合約

該行指出，該公司首季淨利僅占該行全年預測的16%，主要是建築及油氣領域因成本壓力而欠佳，而產業業務則受到整體產業大市不好的負面衝擊。目前該公司手握13億令吉工程合約，可支撐未來兩年的需求。

該行認為，該公司未來業務前景隱憂，包括2015至2017年每年攫取新工程合約少過2億5千萬令吉、生產成本走高及產業推介的需求疲弱等，投資者可要注意這些動向與發展。

成本走高
需求疲弱

目標價方面，當該公司在今年5月26日宣佈最新首季業績後，本地其中4家證券研究給它的剖析及建議可供參考；當時該公司的股價為2令吉59仙，而肯納格研究給的目標價為2令吉72仙（建議持有）、MIDF研究的目標價為2令吉58仙（持有）、興業研究給予3令吉63仙（買進）及達證券給它2令吉60仙（脫售）。

是否可買進，以上一點資料，可提供一些線索及供參考。（星洲日報／投資致富‧投資問診‧文：李文龍）

icy97

Type	Announcement
Subject	OTHERS
Description	ACQUISITION OF SUBSIDIARY
Naim Holdings Berhad (the "Company" or "Naim") wishes to announce that its subsidiary, Naim Engineering Sdn. Bhd. ("NESB") has on 13 July 2015 acquired the following company:- Name of Company Company No. No. of shares acquired Consideration (RM) Equaflow Sdn. Bhd. (“Equaflow”) 1139904-K 2 2 Upon acquisition, NESB will hold the entire issued share capital of Equaflow. Equaflow was incorporated in Malaysia as a private limited company under the Companies Act of Malaysia on 10 April 2015. Equaflow has an authorized share capital of RM400,000 comprising of 400,000 shares whilst its issued and paid-up capital is RM2 comprising of 2 shares.  Equaflow has not commenced business since incorporation. The said acquisition will not have any effect on Naim's share capital, substantial shareholders' shareholdings, earnings and net assets for the financial year ending 31 December 2015. None of the directors and/or shareholders of Naim and/or persons connected with them, have any interest, direct or indirect, in the said acquisition. This announcement is dated 13th day of July 2015.

icy97

業務擴張‧納因紅股在望？

2015-07-15 11:26      
（吉隆坡14日訊）納因控股（NAIM，5073，主板產業組）是砂拉越州首要的建築和產業集團，不過目前已擴張業務至沙巴、西馬和斐濟。

該公司近期崛起成為大馬其中一家大型土著承包公司，所完成的建築總值超過50億令吉，公司旗下的城鎮型產業發展項目主要在砂拉越。

目前該公司開始涉足沙巴，與韓國公司聯營油氣終站計劃，同時也進軍巴生河流域捷運工程（MRT）計劃及斐濟公路提昇及翻新工程。

豐隆研究表示，根據該公司過往建築工程記錄表現來看，預期納因控股將是280億令吉捷運二號線工程的受惠者之一。

同時，該公司自2003年上市以來未展開任何企業行動，儘管股東基金從2003年的3億8千萬令吉，增加3倍至2015年3月的12億7千200萬令吉，引人關注該公司是否會派送紅股回饋股東。

豐隆表示，該公司股價52週最高點為4令吉25仙（2014年7月24日），已經下滑約51%，技術層面來看，該股已經釋放出回升的訊號，若一旦突破2令吉30仙的阻力，有望揚升至2令吉48仙，扶持水平為2令吉8仙及2令吉，止損價為1令吉98仙。

股價：2令吉25仙
總股本：2億5千萬股
市值：5億6千250萬令吉
30天日均成交量：37萬股
最新季度營業額：1億2千666萬4千令吉
最新季度盈虧：淨利1千800萬零4千令吉
每股淨資產：5令吉零9仙
本益比：3.62倍
周息率：1.61%
大股東：拿督哈斯米（約22.85%）（星洲日報／財經）

icy97

SUMMARY OF KEY FINANCIAL INFORMATION 30 Jun 2015

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		30 Jun 2015	30 Jun 2014	30 Jun 2015	30 Jun 2014
		$$'000	$$'000	$$'000	$$'000

1	Revenue	138,585	158,107	265,249	312,159
2	Profit/(loss) before tax	9,837	37,219	31,103	139,077
3	Profit/(loss) for the period	8,563	28,420	26,567	124,120
4	Profit/(loss) attributable to ordinary equity holders of the parent	8,406	28,763	26,018	124,578
5	Basic earnings/(loss) per share (Subunit)	3.55	12.14	10.98	52.58
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00	0.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	5.1300		4.6500

icy97

F KEY FINANCIAL INFORMATION 30 Sep 2015

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		30 Sep 2015	30 Sep 2014	30 Sep 2015	30 Sep 2014
		$$'000	$$'000	$$'000	$$'000

1	Revenue	132,168	157,702	397,417	469,861
2	Profit/(loss) before tax	33,882	48,273	64,985	187,350
3	Profit/(loss) for the period	31,246	39,391	57,813	163,511
4	Profit/(loss) attributable to ordinary equity holders of the parent	31,526	39,279	57,544	163,857
5	Basic earnings/(loss) per share (Subunit)	13.31	16.58	24.29	69.15
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00	0.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	5.2200		4.8200

icy97

SUMMARY OF KEY FINANCIAL INFORMATION 31 Dec 2015

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		31 Dec 2015	31 Dec 2014	31 Dec 2015	31 Dec 2014
		$$'000	$$'000	$$'000	$$'000

1	Revenue	196,976	186,632	594,393	656,484
2	Profit/(loss) before tax	-20,341	40,368	44,644	227,718
3	Profit/(loss) for the period	-22,540	57,108	35,273	220,619
4	Profit/(loss) attributable to ordinary equity holders of the parent	-23,212	56,480	34,332	220,337
5	Basic earnings/(loss) per share (Subunit)	-9.80	23.84	14.49	92.99
6	Proposed/Declared dividend per share (Subunit)	0.00	3.50	0.00	3.50
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	5.2300		5.0400

icy97

前景看淡‧納因財測下調

2016-03-03 16:41      
（吉隆坡3日訊）納因控股（NAIM，5073，主板產業組）旗下建築及產業業務雙雙走弱，對於競標東馬泛婆羅大道計劃更直言“沒信心”，分析員因而看淡前景，揮刀下砍盈利預測。
對泛婆大道合約“沒信心”

納因控股董事部向肯納格研究分析員表示，對競標泛婆羅大道計劃沒信心，因為西馬業者都以更低價格競標，勝出機率不高。

此外，在去年第四季，納因控股為捷運工程撥備1千200萬令吉，導致建築業務虧損，累積撥備已高達3千400萬令吉。

挑剔競標減緩合約補給

因捷運計劃的不好經驗，納因控股從今開始，只競標總賺幅高於20%的合約，肯納格研究預計，挑剔的競標方式將減緩合約補給，因而下修2016年訂單補給量，從4億令吉降至3億令吉。

雖然納因控股將放棄低賺幅計劃，但肯納格預計，賺幅只能在2017財政年後開始成長，因目前該公司仍有10億令吉訂單，而這些訂單的賺幅都介於8至10%。

雖然看淡建築業務，但肯納格表示，納因控股仍有捷運的7千萬令吉的訂單落差（VO），有機會由虧轉盈。

此外，因目前擁有兩個採石場，該公司表示對泛婆羅大道計劃原料供應訂單有信心。

在產業方面，因30%的高貸款申請拒絕率及消費情緒疲弱，管理層保守預測，希望從美里、古晉及民都魯的項目中得到60%的銷售量，肯納格研究因而下砍今年銷售目標，從2億5千萬令吉調至1億5千萬令吉。

此外，該公司管理層已上呈計劃書，希望建造尺寸更小及高密度的可負擔房產。

在業績不如意下，肯納格研究下砍2016財政年業績預測23%至3千670萬令吉，評級保持“落後大市”，目標價下調至1令吉56仙。（星洲日報／財經‧報導：陳林德）

icy97

SUMMARY OF KEY FINANCIAL INFORMATION 31 Mar 2016

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		31 Mar 2016	31 Mar 2015	31 Mar 2016	31 Mar 2015
		$$'000	$$'000	$$'000	$$'000

1	Revenue	139,004	126,664	139,004	126,664
2	Profit/(loss) before tax	5,837	21,266	5,837	21,266
3	Profit/(loss) for the period	1,252	18,004	1,252	18,004
4	Profit/(loss) attributable to ordinary equity holders of the parent	897	17,612	897	17,612
5	Basic earnings/(loss) per share (Subunit)	0.38	7.43	0.38	7.43
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00	0.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	5.1700		5.2300

icy97

纳音偕金务大获15.7亿合约

2016年7月29日
（吉隆坡28日讯）纳音控股（NAIM，5073 ，主板产业股）和金务大（GAMUDA，5398，主板建筑股）联营获得合约总值为15亿7000万令吉。

根据文告，纳音控股独资子公司纳音工程私人有限公司-金务大联营获得该项工程，负责发展和提升砂拉越州泛婆罗洲大道，从Pantu交叉路口至Btg Skrang，合约期限为51个月。

纳音工程和金务大分别持有该联营的70%和30%股权。

纳音控股预计，获颁的新合约将会在合约期限内，为集团的净利和净资产带来贡献。

同时，金务大则预计，合约会推高集团截至2017年7月31日财年营业额和净利。【e南洋】

Type	Announcement
Subject	OTHERS
Description	NAIM HOLDINGS BERHAD (585467-M)PROPOSED PAN BORNEO HIGHWAY IN THE STATE OF SARAWAK  PHASE 1 FOR WORKS PACKAGE  WPC-04 (PANTU JUNCTION TO BTG SKRANG)
INTRODUCTION The Company wishes to announce that Naim Engineering Sdn. Bhd. (“NESB”) a wholly owned subsidiary of the Company, had on 28th July 2016 via its unincorporated joint venture, Naim Engineering Sdn Bhd – Gamuda Berhad JV (“Naim-Gamuda JV”) accepted the award of the development and upgrading of the Proposed Pan Borneo Highway in the State of Sarawak – Phase 1 from Lebuhraya Borneo Utara Sdn. Bhd. (Company No. 930689-H)  to undertake the Works Package – WPC-04 (Pantu Junction to Btg Skrang)  (“Works Package”) for a contract price of RM1.57 billion for a total Works Package contract period of 51 months from the date of site possession. NESB owns 70% and Gamuda Berhad owns 30% in the Naim-Gamuda JV. FINANCIAL IMPACT The above contract is expected to contribute positively to the earnings and net assets of the Group during the tenure of the contract. DIRECTORS’ AND MAJOR SHAREHOLDERS’ INTERESTS None of the Directors and/or major shareholders of the Company and/or persons connected with them, has any interest, direct or indirect, in the Works Package. This announcement is dated 28th July 2016.

icy97

获泛婆大道合约
金务大纳音净利看涨

2016年7月31日
（吉隆坡30日讯）金务大（GAMUDA，5398，主板建筑股）和纳音控股（NAIM，5073 ，主板产业股）的联营公司获泛婆罗洲大道（Pan-Borneo highway）工程合约，分析员虽认为这在预料之中，不过仍乐观看待。

周四（28日），该联营公司宣布获得总值15亿7000万令吉合约，负责发展和提升砂拉越州泛婆罗洲大道，从Pantu交叉路口至Btg Skrang，合约期限为51个月。

纳音财测目标价上调

肯纳格投行对于纳音控股的联营获得上述合约感到惊喜。

该行分析员解释，因为还未将纳音控股在联营公司中，70%或占合约总值约11亿令吉的部分，纳入该公司的盈利预测。

分析员说，纳音控股原本新订单目标为3亿令吉，获得最新联营合约后，将该公司2016财年预测的新增订单目标上调到14亿令吉，即还需再获得3亿令吉的新订单。

不过，分析员维持该公司2017财年订单预测目标为3亿令吉。

分析员说，假设该公司的赚幅为8%，最新工程将平均为公司贡献1550万令吉净利。

因此，分析员也上调该公司2016和2017财年盈利预测，分别增4%和24%，目标价格上调至1.83令吉，维持“低于大市”评级。

分析员说，纳音控股未结账的建筑订单达21亿令吉，可支撑未来3至4年的盈利表现。

同时，尽管订单稳健，仍谨慎看待该股，因为该公司的建筑领域过去2年内持续面对亏损，盈利表现也不稳定。



【e南洋】

icy97

Type	Announcement
Subject	OTHERS
Description	ACQUISITION OF 70% EQUITY INTEREST IN NAIM GAMUDA (NAGA) JV SDN. BHD.
http://www.bursamalaysia.com/market/listed-companies/company-announcements/5179865

Attachments Naim Gamuda (NAGA) JV Sdn. Bhd.docx

Tony-Pua

5073    NAIM    NAIM HOLDINGS BHD

Quarterly rpt on consolidated results for the financial period ended 30/06/2016

Quarter: 2nd Quarter Financial Year End: 31/12/2016 Report Status: Unaudited Submitted By: Current Year Quarter Preceding Year Corresponding Quarter Current Year to Date Preceding Year Corresponding Period 30/06/2016 30/06/2015 30/06/2016 30/06/2015 RM '000 RM '000 RM '000 RM '000 1 Revenue 96,080 138,585 235,084 265,249 2 Profit/Loss Before Tax -9,836 9,837 -3,999 31,103 3 Profit/(loss) attributable to ordinary equity holders of the parent -10,671 8,406 -9,774 26,018 4 Net Profit/Loss For The Period -10,410 8,563 -9,158 26,567 5 Basic Earnings/Loss Per Shares (sen) -4.50 3.55 -4.13 10.98 6 Dividend Per Share (sen) 0.00 0.00 0.00 0.00 As At End of Current Quarter As At Preceding Financial Year End 7 Net Assets Per Share (RM) 5.1400 5.2300

icy97

纳因拟加推中价房产

（吉隆坡12日讯）纳因控股（NAIM，5073，主板产业组）计划在砂拉越推出更多中价房产，以配合日益提升的市场需求。

纳因控股副董事经理黄平恩（音译）向《星报》表示，该公司8月31日推出的住宅项目获得不错的认购率。

他指出，虽然产业市场减缓，但该公司上半年产业销量仍从去年同期的8990万令吉提高到9140万令吉。

他披露，除了产业发展业务，该公司也计划进军酒店和旅游市场，预期第一座酒店将在明年中开业。

他补充，这座酒店共有238客房，将由万豪集团属下Fairfield公司管理。

文章来源：
星洲日报‧财经‧2016.09.13

哭哭鸟

SUMMARY OF KEY FINANCIAL INFORMATION 30 Sep 2016

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		30 Sep 2016	30 Sep 2015	30 Sep 2016	30 Sep 2015
		$$'000	$$'000	$$'000	$$'000

1	Revenue	50,057	132,168	285,141	397,417
2	Profit/(loss) before tax	11,515	33,882	7,516	64,985
3	Profit/(loss) for the period	13,240	31,246	4,082	57,813
4	Profit/(loss) attributable to ordinary equity holders of the parent	12,841	31,526	3,067	57,544
5	Basic earnings/(loss) per share (Subunit)	5.42	13.31	1.29	24.29
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00	0.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	5.2100		5.2300

icy97

SUMMARY OF KEY FINANCIAL INFORMATION 31 Dec 2016

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		31 Dec 2016	31 Dec 2015	31 Dec 2016	31 Dec 2015
		$$'000	$$'000	$$'000	$$'000

1	Revenue	142,889	196,950	428,030	594,367
2	Profit/(loss) before tax	-3,990	-20,802	3,526	44,183
3	Profit/(loss) for the period	-2,375	-22,544	1,707	35,269
4	Profit/(loss) attributable to ordinary equity holders of the parent	-2,350	-23,216	717	34,328
5	Basic earnings/(loss) per share (Subunit)	-0.99	-9.80	0.30	14.49
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00	0.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	5.2600		5.2300

icy97

SUMMARY OF KEY FINANCIAL INFORMATION 31 Mar 2017

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		31 Mar 2017	31 Mar 2016	31 Mar 2017	31 Mar 2016
		$$'000	$$'000	$$'000	$$'000

1	Revenue	113,622	139,004	113,622	139,004
2	Profit/(loss) before tax	-8,050	5,837	-8,050	5,837
3	Profit/(loss) for the period	-11,126	1,252	-11,126	1,252
4	Profit/(loss) attributable to ordinary equity holders of the parent	-11,289	897	-11,289	897
5	Basic earnings/(loss) per share (Subunit)	-4.76	0.38	-4.76	0.38
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00	0.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	5.2000		5.2600

Tony-Pua

5073    NAIM    NAIM HOLDINGS BHD

Quarterly Rpt for the Financial Period Ended 30/06/2017 (Amended)

Quarter: 2nd Quarter Financial Year End: 31/12/2017 Report Status: Unaudited Submitted By: Current Year Quarter Preceding Year Corresponding Quarter Current Year to Date Preceding Year Corresponding Period 30/06/2017 30/06/2016 30/06/2017 30/06/2016 RM '000 RM '000 RM '000 RM '000 1 Revenue 94,922 96,080 208,544 235,084 2 Profit/Loss Before Tax (22,871) (9,836) (30,921) (3,999) 3 Profit/(loss) attributable to ordinary equity holders of the parent (23,577) (10,671) (34,866) (9,774) 4 Net Profit/Loss For The Period (23,323) (10,410) (34,449) (9,158) 5 Basic Earnings/Loss Per Shares (sen) (9.95) (4.50) (14.71) (4.13) 6 Dividend Per Share (sen) 0.00 0.00 0.00 0.00 As At End of Current Quarter As At Preceding Financial Year End 7 Net Assets Per Share (RM) 5.0800 5.2600

Tony-Pua

rm1.18...........新低

Tony-Pua

拨备1.07亿‧纳因第三季盈转亏

（吉隆坡23日讯）纳因控股（NAIM,5073,主板产业组）为竣工建筑项目拨备1亿零700万令吉，以致截至今年9月30日止第三季由盈转亏，净亏9245万6000令吉，前期是净赚1284万1000令吉。

首9个月也陷入赤字，亏损1亿2732万2000令吉，前期是306万7000令吉净利。

第三季营业额提高30.68%至6541万2000令吉。不过，受产业销售降低拖累，该公司首9个月营业额下跌3.92%至2亿7395万6000令吉。

该公司在初步文告中说，由于部份竣工建筑项目的最终价值低于预期，成本却高于预测，造成公司需拨出巨额拨备。

该公司认为，产业市场挑战重重，未来会更小心推介新项目；建筑业务方面，该公司期望如期完成手上工程，也会谨慎竞标新合约。

文章来源：
星洲日报／财经·2017.11.24

5073    NAIM    NAIM HOLDINGS BHD

Quarterly rpt on consolidated results for the financial period ended 30/09/2017

Quarter: 3rd Quarter Financial Year End: 31/12/2017 Report Status: Unaudited Submitted By: Current Year Quarter Preceding Year Corresponding Quarter Current Year to Date Preceding Year Corresponding Period 30/09/2017 30/09/2016 30/09/2017 30/09/2016 RM '000 RM '000 RM '000 RM '000 1 Revenue 65,412 50,057 273,956 285,141 2 Profit/Loss Before Tax (83,493) 11,515 (114,414) 7,516 3 Profit/(loss) attributable to ordinary equity holders of the parent (92,456) 12,841 (127,322) 3,067 4 Net Profit/Loss For The Period (92,256) 13,240 (126,705) 4,082 5 Basic Earnings/Loss Per Shares (sen) (39.02) 5.42 (53.74) 1.29 6 Dividend Per Share (sen) 0.00 0.00 0.00 0.00 As At End of Current Quarter As At Preceding Financial Year End 7 Net Assets Per Share (RM) 4.7000 5.2600

icy97

SUMMARY OF KEY FINANCIAL INFORMATION 31 Dec 2017

		INDIVIDUAL PERIOD		CUMULATIVE PERIOD
		CURRENT YEAR QUARTER	PRECEDING YEAR CORRESPONDING QUARTER	CURRENT YEAR TO DATE	PRECEDING YEAR CORRESPONDING PERIOD
		31 Dec 2017	31 Dec 2016	31 Dec 2017	31 Dec 2016
		$$'000	$$'000	$$'000	$$'000

1	Revenue	92,237	142,889	366,193	428,030
2	Profit/(loss) before tax	-32,568	-3,990	-146,982	3,526
3	Profit/(loss) for the period	-41,136	-2,375	-167,841	1,707
4	Profit/(loss) attributable to ordinary equity holders of the parent	-41,420	-2,350	-168,742	717
5	Basic earnings/(loss) per share (Subunit)	-17.48	-0.99	-71.22	0.30
6	Proposed/Declared dividend per share (Subunit)	0.00	0.00	0.00	0.00
		AS AT END OF CURRENT QUARTER		AS AT PRECEDING FINANCIAL YEAR END
7	Net assets per share attributable to ordinary equity holders of the parent ($$)	4.5100		5.2600