PETALING JAYA: There is scepticism that Ascot Sports Sdn Bhd, in which Berjaya Corp Bhd has proposed to acquire a 70% stake for RM525mil, can achieve RM375mil minimum profit guarantee over three years or an average of RM125mil a year.
This is because Ascot Sports, in its financial statement for the year ended Dec 31, 2008, has recorded a consolidated net liabilities of RM11.2mil and loss after tax of RM4.6mil.
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