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Corporate News 29 Oct 2019 | 7:00 AM Premium

SABIC records US$400mil impairment loss

RIYADH: Saudi Basic Industries Corp (SABIC) reported an 86% drop in third-quarter net profit on Sunday after taking an impairment charge of 1.5 billion riyals (US$400mil) on its investment in Swiss chemicals firm Clariant.

Corporate News 28 Nov 2018 | 12:00 AM Premium

Kumpulan Fima earnings soar to RM32mil

KUALA LUMPUR: Kumpulan Fima Bhd’s net profit for the second quarter ended Sept 30, 2018, almost tripled to RM32.05mil from RM11.71mil a year earlier due to a significant writeback of impairment loss on property, plant and equipment.

Community 21 Feb 2015 | 12:00 AM Premium

Doubtful debts burn gas manufacturer

KUCHING: Industrial gases manufacturer SIG Gases Bhd’s (SIG) bottomline has been hit by impairment loss and provision for doubtful debts.

Business 01 Aug 2012 | 12:00 AM Premium

Bintai revises net profit

PETALING JAYA: Bintai Kinden Corp Bhd has made a huge adjustment to its audited net profit after tax for the financial year ended March 31, 2012 after recording an additional impairment loss on receivables of RM26.6mil.

Corporate News 29 Oct 2015 | 12:00 AM Premium

icapital slides into the red

PETALING JAYA: Malaysia’s only listed close-end fund, icapital.biz Bhd slid into the red, recording a net loss of RM9.28mil for the first quarter ended Aug 31, from a net profit of RM2.17mil a year ago, hurt by a provision for impairment loss on its investment in Parkson Holdings Bhd amounting to some RM10.46mil.

Business 11 Mar 2015 | 12:00 AM Premium

CCM to take writedown

KUALA LUMPUR: Chemical Company of Malaysia Bhd (CCM) will take a writedown on its Medan plant assets and recognise an impairment loss of RM36.8mil, as it “couldn’t justify” having Medan on its books any longer, said group managing director Leonard Ariff Abdul Shatar.

Business 20 May 2009 | 12:00 AM Premium

RHB Capital profit up on higher income

PETALING JAYA: RHB Capital Bhd recorded a net profit of RM228.6mil for the first quarter ended March 31, 2009, up 3% from RM222.4mil in the previous corresponding period due to higher net interest income, impairment loss no longer required and improved Islamic banking business income.

Business 10 Aug 2017 | 12:00 AM Premium

MISC quarterly net profit down 59%

PETALING JAYA: MISC Bhd’s net profit fell 59% to RM556.50mil in the second quarter ended June 30 from a year ago on a flat revenue of RM2.3bil, partly due to an impairment loss on ships, property, plant and equipment of RM133.6mil.

Community 03 Sep 2013 | 12:00 AM Premium

Outstanding debts write-off costs Zecon quite dearly

KUCHING: An impairment loss of RM24.3mil on long outstanding debts has resulted in Zecon Bhd having to “swallow the bullets” as far as its earnings are concerned.