Powerwell Holdings Berhad (“Powerwell” or “Company”), a
manufacturer of low voltage switchboards and medium voltage switchgears, recorded a
revenue and loss before tax of RM18.3 million and RM2.4 million respectively in its first quarter
of the financial year ending 31 December 2020. The loss incurred in current financial quarter
was primarily due to the one-off listing expenses of RM4.2 million. Excluding the listing expenses,
Powerwell would have achieved a profit before tax of RM1.8 million.