Berjaya Land posts RM189.5mil loss

ties, including penalties, amounting RM22.7mil owed by the company.

Since then, Lee said the group has struggled to obtain funding from financial institutions.

On the new ventures, Lee said the group planned to incorporate a wellness aspect into its hospitality and resorts division, offering services such as medical checks and detoxification.

Earlier yesterday, the group announced a proposed bonus issue of up to 137.853 million on the basis of one warrant for every two existing shares held. to PETALING JAYA: Berjaya Land Bhd posted a net loss of RM189.53mil for the financial year ended April 30, 2018, mainly due to a lower pre-tax profit caused by impairments made on certain available-for-sale investments, assets held for sale and property, plant and equipment, amounting to approximately RM223.8mil.

According to a Bursa Malaysia filing, Berjaya Land also reported unfavourable foreign exchange translation effect due to the strengthening of the ringgit and lower share of profits from its associated companies.

“Berjaya Kyoto Developement (S) Pte Ltd, an associated company of the group, had reported lower number of units sold at its Four Season Residences in the current year as compared to the previous year.

“Further in the previous financial year, the group recognised a one-off gain on settlement for surrendering certain assets and lease interest by a subsidiary company to the relevant authorities which amounted to RM184.6mil,” it said.