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Berjaya records RM153m loss

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Berjaya records RM153m loss

Published on: Friday, December 29, 2017

Kuala Lumpur: Berjaya Corporation Bhd (BCorp) recorded a pre-tax loss of RM153.46 million in the second quarter ended Oct 31, 2017 against a pre-tax profit of RM408.49 million in the same quarter a year ago.

In a filing to Bursa Malaysia Thursday, BCorp said the loss was mainly due to the provision for the portion impairment of the balance sales proceeds from the Great Mall of China project sale in China in accordance to accounting standards and the partial disposal of an associated company.

Revenue decreased to RM2.19 billion from RM2.46 billion previously, due to lower revenue reported by the retail distribution and motor distribution businesses, property investment and development business segments, it said.

On prospects, BCorp said given the prevailing economic conditions and global financial outlook, the directors were of the view that the group’s operating environment would be challenging going forward.

Meanwhile, TAHPS Group Bhd has undergone a name change and will now be known as Ayer Holdings Bhd.

In a filing to Bursa Malaysia, the company said its securities would be traded and quoted under the new name with effect from 9 am on Jan 3, 2018.

“However, the stock number of the securities remain unchanged,” it said.

The share of the plantation and property development company was untraded today and remained pegged at RM6.70.-Bernama

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