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PCS - Revenue decreased in 2Q2019 and 1H2019 mainly due to lower equipment sales to a major customer in Singapore and lower prepaid sales. This was partially mitigated by higher channel sales and field and cabling services revenue and commission income.
ICT - Revenue decreased in 2Q2019 and 1H2019 mainly due to lower software revenue. There was also lower enterprise network products distribution sales with the disposal of the business in 3Q2018.
Engineering - Revenue increased in 2Q2019 and 1H2019. Except for the Singapore operation, all other operations reported an increase.
PCS - PBT increased in 2Q2019 and 1H2019 were from the Singapore operations. The higher PBT from the Singapore operations was due to higher margin service revenue. PBT from the Malaysia operations was lower due to lower variable commission recognised.
ICT - Losses in 2Q2019 was from lower revenue and gross profit partially mitigated by lower operating expenses. Lower losses in 1H2019 was mainly due to higher margin service revenue. There was also a lower share of profit from an associate.
Engineering - PBT decreased in 2Q2019 and 1H2019. The profit improvement from the Indonesian operation was partially offset by higher losses from all the other operations.
Based on the current outlook and barring any unforeseen circumstances, the Group expects operating performance for FY2019 to be maintained at the same level as FY2018. Overall, the operating environment remains challenging and uncertain.
This release may contain forward-looking statements that involve risks and uncertainties. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements as a result of risks, uncertainties and assumptions. Representative examples of these factors include (without limitation) general industry and economic conditions, interest rate trends, cost of capital and capital availability, competition from other companies and venues for the sale/distribution of goods and services, shifts in customer demands, customers and partners, changes in operating expenses, including employee wages, benefits and training, and governmental and public policy changes. You are cautioned not to place undue reliance on these forward looking statements, which are based on current view of management on future events.