In line. WTK’s FY12/09 recorded a loss of RM0.8m vs. our expectations of RM8.6m. Key variance was mainly the recognition of deferred tax assets of certain subsidiaries, which are available for offset against future taxable profits, which led to writeback of deferred tax provision of RM11.7m in 4Q09. However, on the PBT level, WTK recorded RM3.6m loss in FY09 vs. our estimate of RM1.1m loss which was in line with our expectations. During the quarter, WTK declared a 6 sen (less 25% tax) gross final dividend, which would be recognised in FY10.
WTK Holdings Berhad :Hoping For A Stronger Recovery - 01/03/2010
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