KUALA LUMPUR, Dec 20 — Berjaya Land Bhd’s net loss for the second quarter (Q2) ended October 31, 2018 narrowed to RM1.77 million versus the RM99.92 million net loss in the same period a year earlier.

Revenue for the quarter eased to RM1.51 billion from RM1.61 billion year-on-year.

The group attributed the lower revenue primarily to a drop in gaming revenue reported by Sports Toto Malaysia Sdn Bhd and lower revenue from HR Owen Plc following unfavourable foreign exchange translation.

In a filing with Bursa Malaysia today, Berjaya Land said lower progress billings from the property development segment and weaker revenue reported by the hotels and resorts segment due to lower overall occupancy rates also affected the revenue.

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“The directors expect the number forecast operation business to be satisfactory and that it will continue to maintain its market share for the remaining quarters of the financial year ending April 30, 2019,” it said.

Berjaya Land said the performance of both the hotels and resorts, and property development business segments were expected to remain satisfactory for the remainder of the financial year. — Bernama