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Thursday, August 25, 2011

Time Engineering in the black (Edge)

TIME ENGINEERING BHD [] posted net profit of RM2.53 million in the second quarter ended June 30, 2011 from a net loss of RM4.29 million a year ago due to a reversal of RM5.8 million, being the over-provision of the finance cost of the group’s redeemable secured loan stocks (RSLS).

On the outlook, Time Engineering said the group will be in a better position to improve its business and services offerings as the integrated enterprise centre will be in operation by the end of the third quarter as well as the expected continuous expansion from the e-commerce portfolios.

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