RGB lost MYR14m in Q2 2020
Malaysia’s RGB International Bhd announced the financial results for Q2 2020. The Group’s revenue was MYR14.4m, a 74% drop from MYR55.1m in 2019. During the first six months of 2020, the group earned MYR91.8m, 14% less compared to H1 in 2019 with MYR107.3m.
Revenue from sales and marketing for Q2 was MYR12.8m, compared to MYR23.1m year-on-year. H1 2020 saw sales revenue at MYR56.8m, a 26% rise from MYR41.1m the last year.
The Group stated the losses can be attributed to the global pandemic, with travel restrictions and health and safety measures creating pressure in various industries and economies. It said in a statement that the impact of the pandemic could be significant and is in the process of assessing the full financial impact of it for the financial year ending 31 December 2020 since developments remain uncertain.
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