In line with the lower revenue, selling and distribution expenses fell to RM1.8 million from RM3 million a year ago.
General and administrative expenses however more than tripled to RM5.8 million from RM1.5 million, which the group attributes to higher payroll-related costs additional depreciation and amortization expenses, and fees for liaising and sourcing tenants for the Capital City mall.
Going forward, the group says it will continue with its efforts to look for potential joint venture partners with land assets in strategic locations in Malaysia and other Asean countries in order to further strengthen its property business.
Shares in Capital World closed 3.1% lower at 6.3 cents.
