Berjaya Corp (BCorp) Going Strong

Diane Foo Eu LynnJune 30, 2016

 

Berjaya Corp Bhd’s (BCorp) whose fourth quarter ended in April 30, 2016 reported a revenue increment of 6.94% (RM2.48 billion) as compared to 2.32 billion the previous year, as a result of higher revenue in the development and property investment segment.

In a filing with Bursa Malaysia, BCorp said that the segments saw strong sales in the China due to the relaxation of selected government properties for property acquisition.

“Higher revenues were also reported by the restaurants and cafes business mainly due to higher sales recorded by existing cafes as well as additional cafes operating in the current quarter,” it said.

Their H.R. Owen Plc from the motor distribution business also drew in higher revenue as a result of  newer car models from car manufacturers and new outlets.

The businesses under the umbrella which however did not perform as well is their Toto betting operations under the marketing and consumer products and services segment.

Up for approval in the next BCorp Annual General Meeting (AGM) is the corporation’s recommendation of a final dividend of three treasury shares for every 100 ordinary shares held. The final value of the share dividend is calculated at 2.16 sen per share.

Due to non-cash impairment, BCorp’s pre-tax loss has increased in the final quarter to RM466.09 million as compared to RM323.03 million the year before in value of goodwill of RM473.20 million; property, plant and equipment of RM25.67 million; associate companies of RM28.71 million; and assets held for sale relating to Berjaya (China) Great Mall Co Ltd of RM131.81 million, totalling RM659.39 million.

Images credit: www.berjaya.com

Diane Foo Eu Lynn, Senior Content Specialist at PropertyGuru, edited this story. To contact her about this or other stories email diane@propertyguru.com.my

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