Financial group Malaysian Plantations Bhd has incurred a net loss of RM229.87mil for the second quarter to September against the preceding year's net profit of RM52.3mil, due to provisions for loan losses and impairments.
The company said it made provisions of RM478mil for loan losses and impairments for the six months to September, with an additional specific provision and impairment loss of RM415mil made during the second quarter.
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