Nexgram's Q1 net loss widens to RM2.9 million

PETALING JAYA: Nexgram Holdings Bhd remained in the red in the first quarter ended October 31, with its net loss widening to RM2.9 million from RM2.3 million a year ago as a result of increased losses mainly from the ICT division.
Its revenue for the period under review declined 21.2% to RM10.58 million from RM13.43 million due to lower contribution from its property division and a subsidiary involved in dealing with a wide-ranging choice of security and video surveillance equipment.
Nexgram said the group remains focused on the ICT segment and it is in the midst of discussion on several material projects with the potential customers from government and non-government sectors.
It also noted that the group has restructured the Angkasa Icon City Project by engaging its own project management team to ensure cost effectiveness and work efficiency.
The stock remained unchanged at 3.5 sen with some 680,000 shares done.