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Talam Corp sees 4Q net loss of RM81m

KUALA LUMPUR: Talam Corporation Bhd records a net loss of RM81 million from a net profit of RM5.8 million a year ago. This was revealed in its fourth quarter (4Q) financial statements ended Jan 31, the group announced on Thursday, Mar 31. Revenue dropped 24% to RM57.8 million from RM75.6 million the previous year.

"The lower revenue reported is mainly attributable to lower progress billings generated from the development projects during the current quarter under review," the group said.

The net loss was attributed to "additional provision made on the liquidated damages of RM25 million, impairment losses allowed for development land of RM3.80 million and the loss on disposal of investment property of RM2.66 million".

The basic loss per share for the group was 2.49 sen compared to a basic earning or 0.23 sen a year ago. The net assets per share dropped to RM0.18 from RM0.25 as at the preceding financial year end.

Talam Corp is a Malaysia-based company that engages in the provision of management services, investment holding, and property development.

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