Protasco starting on a clean slate – The Star Online

Protasco starting on a clean slate  The Star Online

COULD construction and property player Protasco Bhd be a stock worth watching now that its boardroom tussle and one-off impairments have come to a close? The company seems to have kitchen-sinked all of its skeletons in the fourth quarter of 2018, when it took a RM41.6mil hit to its bottom line on the back of cost overruns, provisions, impairments and retrenchment costs. Following this write off, as if starting on a clean slate, Protasco posted a first-quarter net profit of RM1.23mil from a previous net loss of RM2.14mil. Today, at its share price of 25.5 sen, the stock has retraced some 50%…

Source: Property New Feed