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-month period ended March 31, 2024
“The concrete division has been loss making as it operates in a very competitive price sensitive business environment,” it said.