AbleGroup Berhad announces unaudited consolidated earnings results for the second quarter and six months ended June 30, 2012. For the quarter, revenue was MYR 1,376,000, loss before tax from continuing operations was MYR 126,000 and loss attributable to equity holders of the parent was MYR 1,968,000 against revenue of MYR 2,038,000, loss before tax of MYR 418,000 and loss attributable to equity holders of the parent of MYR 2,573,000 for the same period a year ago. Loss from continuing operations, net of tax was MYR 126,000 or 0.048 sen per diluted share against MYR 418,000 or 0.257 sen per diluted share a year ago. The lower revenue registered in the quarter is mainly due to lack of projects in Malaysia and the scaling down of business in China in view of the pending sale of its subsidiary during the quarter concerned. The lower LAT is mainly due to lower administrative and financial expenses incurred in the quarter as compared to second quarter of 2011. Diluted loss per share was 0.746 sen against 1.581 sen a year ago.

For the six months, revenue was MYR 3,131,000, loss before tax from continuing operations was MYR 747,000 and loss attributable to equity holders of the parent was MYR 3,510,000 against revenue of MYR 5,452,000, loss before tax from continuing operations of MYR 1,991,000 and loss attributable to equity holders of the parent of MYR 4,758,000 for the same period a year ago. Loss from continuing operations, net of tax was MYR 747,000 or 0.298 sen per diluted share against MYR 1,991,000 or 1.224 sen per diluted share a year ago. Net cash flows from operating activities was MYR 4,496,000 and purchase of property, plant and equipment was MYR 4,000 against net cash flows from operating activities of MYR 2,764,000 and purchase of property, plant and equipment of MYR 527,000 a year ago. Purchase of investment property was MYR 49,000. The lower revenue registered in FPE12 is mainly due to lack of projects in Malaysia and the scaling down of business in China in view of the pending sale of its subsidiary for FPE12. The lower LAT is mainly due to lower operating expenses incurred despite the lower revenue recorded in FPE12 as compared to FPE11. Diluted loss per share was 1.394 sen against 2.924 sen a year ago.