This marks the eighth consecutive loss-making quarter for the department store operator. The current loss-making quarter is the largest it has had since 4QFY17 with a net loss of RM96.03 million then.
Net property income fell by a quarter to RM39.36 million, from RM52.75 million a year earlier, CMMT said in a bourse filing today.
Revenue came in 26.26% lower at RM4.11 billion versus RM5.57 billion previously, the group's stock exchange filing today showed.
This comes as Tadmax refocuses on property development, following its recently announced plan to exit from the RM3.3 billion Pulau Indah power plant project.
"They are retrenching about 10% to 20% of their staff force that stands at about 20,000," said a source.
“The answer is yes if we get a good offer,” group CEO Datuk Jeffri Salim Davidson said at a press conference today on Sime Darby’s latest quarterly results.
This is because Malaysia is excluded from the voluntary licensing agreement for generic versions of the drug, Noor Hisham said at his daily press briefing on the Covid-19 situation in Putrajaya today.
Adding to the woes, the casino operator recognised a loss of RM100.1 million relating to its stake in financially stressed Empire Resorts Inc, a casino it acquired from controlling shareholder Tan Sri Lim Kok Thay last year.
Earnings for the quarter were also hit by higher finance costs and higher share of losses from non-controlling interests, the group said in an exchange filing.
Revenue in the first quarter ended March 31, 2020 dropped 17% at RM365.83 million from RM440.04 million a year ago.
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