Hibiscus posted a profit of 80.5 million ringgit ($19.5 million) for the quarter, recovering from a net loss of more than 11 million ringgit over the same period last year.
The company attributed the turnaround to the completion of the acquisition of the Anasuria Cluster in March, with Hibiscus recognising a fair value gain of 135.3 million ringgit on the deal.
It
