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BCorp Sells Landfill Project In China For RM77 Million
By:
  • Berjaya Corp (BCorp) has inked an agreement to dispose its 100 percent stake in a sanitary landfill management project in Guangdong, China for 126.8 million yuan (RM77 million).
  • The proposed disposal provided an opportunity for BCorp to unlock its investment in Berjaya Environmental at an attractive value.
  • BCorp also mentioned that its net loss for 4Q14 ended 30 April 2015 grew 9.8 percent to RM275 million, while revenue fell 5.9 percent to RM2.3 billion. The losses are mainly due to the non-cash impairment in value of goodwill relating to the gaming cash generating units (CGUs) of RM442.2 million.

Significance: For FY2014, the group earned RM861.8 million compared to a net loss of RM148.9 million in FY2013. Directors believe that the group’s operating performance will be challenging for FY2015.


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