Berjaya Corp registers RM439mil loss in FY21

KUALA LUMPUR: Berjaya Corp Bhd made a RM439mil loss in the financial year ended June 30 (FY21), mainly due to non-cash impairment of certain assets, both tangible and intangible, totaling about RM203mil.

Meanwhile, its hotels and resorts business segment incurred heavy losses as this segment was severely impacted by international border closures and domestic travel restrictions.

However, the other business segments recorded profits to mitigate the losses, the group said in a filing today.

Total revenue stood at RM7.46bil.

Berjaya Corp said the strict Covid-19 measures has dampened the recovery rate of the Group's business operations, adding that despite the initiatives launched to counter the impact of the pandemic, the economy is expected to recover at a slower pace.

"Taking all of this into account, the Directors expect that the performance of the business operations of the Group for the financial year ending 30 June 2022, will move in tandem with the economy as it begins to open up both domestically and abroad," it said.