PETALING JAYA: BIG Industries Bhd has announced the cessation of business of its concrete division to minimise the group’s losses.
In a filing with Bursa Malaysia, BIG said the concrete division was operated by its three wholly-owned subsidiaries, namely Uni-Mix Sdn Bhd, Uni-Mix Concrete Products Sdn Bhd and Kinalaju Supply Sdn Bhd.
The company said its concrete division posted a pre-tax loss of RM660,658 and RM157,619 for the financial years ended June 30, 2022 and June 30, 2023, respectively.
The company’s concrete division reported an unaudited pre-tax loss of RM446,599 for the nine-months period ended March 31, 2024
BIG said the operational losses will cease with the cessation of the business.
“The concrete division has been loss making as it operates in a very competitive price sensitive business environment served by operators like ourselves and contractors who have their own on-site batching plants and casting yards at their job sites.
“The financial losses over the years were a result of low demand/ volume below our breakeven, as well as lack of construction related activities in the area we operate.”