KUALA LUMPUR: Berjaya Corp Bhd (BCorp) recorded a RM95.19 million net loss in the fourth quarter (Q4) ended April 30, 2018 from a net profit of RM3.24 million a year ago.
In a filing to Bursa Malaysia, BCorp said this was due to lower contributions from retail distribution business, property investment and development business, hotel and resorts business as well as gaming operations.
It was also contributed by the impairment provision of various assets and unfavourable foreign exchange (forex) difference amounting to RM101 million.
Its revenue in the same quarter eased 5.5 per cent to RM2.11 billion from RM2.23 billion, due to the lower revenue reported by the marketing of consumer products and services as well as the property investment and development business segments.
For the 12 months, BCorp registered a net loss of RM377.07 million compared to a net profit of RM149.29 million last year. Its revenue decreased 5.6 per cent to RM8.67 billion from RM9.18 billion.
BCorp executive chairman Tan Sri Vincent Tan is confident that a substantial portion of the impairment provision losses can be reversed in the future.
“Given the prevailing economic conditions and global financial outlook, the directors are of the view that the group's operating environment will be challenging going forward,” he said.