SAPURA TELECOMMUNICATIONS BHD swung into a loss in the year to January 2002, hit by losses incurred in the information technology, telecommunications, property development and investment holding operations.
The company posted a net loss of RM62.063mil and pre-tax loss of RM68.2mil in 2002, compared with a net profit of RM1.207mil and pre-tax profit of RM4.621mil in 2001.
In the notes accompanying its results, Sapura said the IT sector recorded a RM48mil loss in the year to January 2002, while the telco division incurred a RM7.8mil loss, and property sector and investment holding operations suffered a RM12.4mil loss.
A significant portion of the losses incurred in the year just ended was also due to the company's move to assess its assets and a provision of RM57.3mil for work in progress, it said.
Going forward, the company said it was currently restructuring and streamlining its operations as the current business environment poses a big challenge to the group's profitability. – AFX
Berjaya Land Bhd director and chief executive officer Tan Sri Vincent Tan Chee Yioun has resigned from last Friday, to be replaced by his son Robin Tan Yeong Ching, the company said in filings to the KLSE.
Robin Tan also holds directorships in Berjaya Sports Toto Bhd and Bukit Tinggi Resort Bhd. – AFX