7 days ago
Reach Ten declares maiden dividend of 1c per share
Reach Ten managing director Leo Chin
KUALA LUMPUR: Reach Ten Holdings Bhd - which was listed on the Main Market of Bursa Malaysia on May 2, 2025 - has announced its first interim dividend of one sen per share, along with its financial results for the first quarter ended March 31, 2025.
According to to statement by the group, the post-listing dividend is in line with its dividend policy to distribute up to 30% of its net profit.
During the first quarter, the Sarawak-based telecommunications service provider said it recorded a net profit of RM7.12mil on the back of revenue of RM23.05mil, which translates to an earnings per share of 0.89 sen.
The reported results cover only two months - February and March 2025 - following the completion of the merger of its subsidiaries on Feb 5, 2025, which is in accordance with Malaysian Financial Reporting Standards.
"As such, the revenue and profit solely represent the post-acquisition performance of the consolidated entities," it said in a statement.
On a full-quarter basis, revenue and net profit would have been RM28.4mil and RM8.2 mil, respectively, said the group.
There are no comparative figures for the corresponding preceding quarter's results as this is only the second interim financial report being announced by the company in compliance with the listing requirements.
According to the group, revenue for the quarter was mainly driven by its satellite-based communication networks and services segment, which contributed 63.2% of total revenue.
Fibre optic communication networks and services accounted for 21.4%, while telecommunications infrastructure and managed services contributed 15.4%.
"We remain confident in the group's growth trajectory, driven by rising demand for digital connectivity, supportive government policies, and ongoing infrastructure expansion.
Managing director Leo Chin said the group remains optimistic about its business outlook, supported by positive structural trends in Malaysia's telecommunications sector.
"Our strategic focus on underserved markets, particularly in Sarawak, positions us well to capture emerging opportunities and deliver long-term value to our shareholders," he said.
