Mulpha sinks deeper into the red on Aveo impairment

“Pre tax profit decreased by RM302.47mil as it was significantly impacted by the impairment of investment in an associate, Aveo of RM315.38mil. This is offset by better performance in the hospitality and property divisions by RM6.82mil and RM6.63mil, ” it said.

KUALA LUMPUR: Mulpha International Bhd posted net losses of RM299.32mil in the third quarter ended Sept 30,2019, severly impacted by impairment of investment in an associate, Aveo Group, an Australian-listed associate.

It said on Friday the net losses widened sharply compared with net losses of RM6.65mil a year ago.