KUALA LUMPUR: EcoBuilt Holdings Bhd's (EHB) net loss widened to RM23.75 million in the fourth quarter (Q4) of the financial year 2023 (FY23) that ended May 31, 2023, from RM13.04 million a year ago.
In a Bursa Malaysia filing, the company attributed the net loss to a bad debt write-off of RM9.15 million, resulting from an outstanding amount due from Gabungan Eko Construkt Sdn Bhd.
This also includes the provision for an expected credit loss allowance of RM4.36 million arising from trade and other receivables.
As for revenue, the company reported a decrease in revenue of 26.20 per cent to RM33.67 million from RM45.63 million a year ago.
The company also registered a loss per share of 6.10 sen, down from a loss per share of 3.41 sen.
In the cumulative period, EHB registered a wider net loss of RM30.31 million compared to RM12.10 million a year ago.
The company also posted marginally lower revenue of RM164.05 million from RM166.96 million the previous year.
EHB maintained cautiously optimistic prospects and remained vigilant to ensure timely responses were taken to address any adverse risks.
"Rest assured, we will continue to leverage our core competencies, collective expertise, and appropriate technology in an attempt to deliver quality projects to our clients and preserve the long-term values of our shareholders," it said.
