Update On Gadang Holdings

Just saw the followings news flash.

• Gadang advances as Q4 income triples
  
  Published: 2010/07/30
  
  Gadang Holdings Bhd, a Malaysian construction and property developer, rose to its highest level in more than three months in Kuala Lumpur trading after saying fourth-quarter net income more than tripled from a year earlier.
  
  The stock advanced 3.2 per cent to 98 sen at 9:39 am local time, headed for its highest close since April 7. -- Bloomberg
  
  

Here's the link to Gadang's earnings (note: it's a temp link only. Don't ask me why, go ask Bursa. :P ) Quarterly rpt on ceonsolidated results for the financial period ended 31/5/2010

Now I have blogged on Gadang Holdings a couple of times before. See Update On Gadang Holdings

Here's my updated summary table on Gadang Holdings.

How?

As stated in the blog posting Update On Gadang Holdings

• As you can see Gadang's earnings had been dismal. It fared terribly in 2008 and 2009.

And surely any comparison against those two years would make the comparison look super good, yes?

However... having said that... I have to acknowledge that 2010 has been a good year for Gadang. A net earnings of 15.060 million is indeed impressive considered what Gadang has ever done.