Mat Sabu: LTAT's profit for FY17 should be RM370.56m and not RM662.17m as reported, due to unrecogised impairments and incomplete land sale

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LTAT's profit for FY17 should be RM370.56 million and not RM662.17 million as reported, due to unrecogised impairments and incomplete land sale, said defence minister Mohamad Sabu.

This is because its financial statement booked in RM202.71 million from land deals as profit despite the transactions not finalising in 2017, and it did not recognise impairment of RM88.9 million.