KUALA LUMPUR (Aug 28): Berjaya Corp Bhd said it recorded a net loss of RM110.41 million in the two-month period ended June 30, 2019, on revenue of RM1.42 billion, after booking in unfavourable fair value changes and impairments.

"The group reported a pre-tax loss of RM47.95 million mainly due to the impairment in associated companies, unfavourable fair value changes of investment properties and impairment of goodwill in a subsidiary company. These were mitigated by the gain recognised on the disposal of a subsidiary company amounting to RM17.97 million," it said in a stock exchange filing today.

No comparative figures for the period — and for the cumulative 14-month period ended June 30, for which it posted a net loss of RM112.18 million on revenue of RM9.78 billion — was given, following a change in the group's financial year-end from April 30 to June 30.

The group said its gaming and motor distribution business segments were the main contributors to its revenue in both the two-month and 14-month periods.

Berjaya Corp is of the view that its operating environment will be "challenging for the forthcoming financial year ending June 30, 2020" given the prevailing economic conditions and global financial outlook.

Its share price settled unchanged at 26 sen at today’s close, bringing it a market capitalisation of RM1.34 billion. In the past 12 months, the stock has retreated over 10%.