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Berjaya Land Swings To Net Loss
  • Berjaya Land (BLand) fell into the red, with RM418.5 million net loss for 4Q14 ended 30 April 2015 from a net profit of RM5.8 million in 4Q13.
  • The losses are attributable to non-cash impairment of goodwill relating to the gaming cash-generating units (CGUs) amounting to RM380.7 million resulting from the excess of these CGUs’ carrying values over their recoverable amounts.
  • BLand mentioned that its gaming business was affected by the continued challenging economic and regulatory environment in their respective jurisdictions.

Significance: For FY2014 to 30 April 2015, BLand incurred a net loss of RM398.5 million against a net profit of RM104.6 in FY2013.

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