Features - News
 
Tuesday , 15 July 2008  ~ Malaysian Reserve
 
Ingress Corporation Berhad - Malaysia Reserve

INGRESS CORP BHD added four sen, or 8.33% to 52 sen with 121,000 shares traded yesterday. The company is confident of returning to the black after posting a net loss of of RM11.35 million last year. Rising demand for its auto parts was reflected in its first quarter ended Jan 31, 2008, with a net profit of RM3.54 million compared to net loss of RM436,000 in the same quarter last year. Quarterly revenue jumped 64.6% to RM111.9 million from RM67.98 million previously. Last week, Ingress' 49% - owned associate Balfour Beatty Rail Sdn Bhd won a RM1 billion contract to implement the rail system package for the Ipoh-Padang Besar electrified double-tracking project from the MMC-Gamuda joint venture. The company said the project is not expected to contribute to this financial year's profit as the early stage only involves design and procurement.