Abdul Wahid noted no one anticipated the global Covid-19 pandemic to hit the world this badly; Malaysia is obviously not spared with its GDP contracting by 5.6% in 2020.
... and it is estimated to chart better growth for 2022.
Today's new confirmed cases brought the country's total number of Covid-19 cases to 1.81 million
Syed Hizam has been suspended since May to facilitate investigations into allegations of possible financial mismanagement in relation to the group’s investments and operations.
It is also worth noting that its financial performance in 2QFY20 was dragged by an impairment recognised for completed property inventories totalling RM50 million.
On prospects, Guocoland expects it to be challenging due to reduced consumer capital spending in response to the raging pandemic, coupled with large overhang of unsold properties
Property sales improved substantially to RM707 million in the first half compared to RM151 million in the same period last year, following the spillover of the positive momentum in the second half of 2020
The improved revenue, the group said, was driven by its ongoing property developments
The group said Lai resigned from the position “to pursue other interest”
This follows his disposal of 116.60 million shares or a 12.32% stake in the integrated travel and hotel group on Aug 19.
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