In its filings with Bursa Malaysia, Yong Tai said its wholly-owned subsidiary YTB Impression Sdn Bhd terminated the deal due to non-fulfilment of the condition precedent as stated in clause 3.1(c) of the joint development agreement. Yong Tai fell half a sen to close at 32.5 sen yesterday.
KUALA LUMPUR: Media Chinese International Ltd
(MCIL) has issued a profit warning and it is expecting to record a loss for the financial year ended March 31, 2018.
The media company had on Tuesday informed shareholders and potential investors that based on information available which is subject to further review, it was expecting a loss for FY18 as compared to a profit for FY17.
MCIL said the expected loss was “mainly attributable to a provision for the impairment of goodwill in relation to a business unit of the group”.
It said the information contained in the announcement to Bursa Malaysia was only based on preliminary assessment by the board on the currently available information.
“Shareholders and potential investors of the company are advised to exercise caution when dealing in the shares of the company,” it said.
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