Home Capital Results

Aspen expects to report net loss for 1HFY2022

Samantha Chiew
Samantha Chiew1/28/2022 06:36 PM GMT+08  • 2 min read
Aspen expects to report net loss for 1HFY2022
Aspen expects a loss for the coming 1HFY2022 period.
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

Malaysian-based property developer Aspen (Group) Holdings is expecting a net loss for its 1HFY2022 ended December 2021.

Based on its preliminary review and assessment of current information, the net loss for the period is attributable mainly due to the unprecedented business disruptions caused by the Covid-19 pandemic to the operations of the group.

For the property development sector, the temporary halt of the construction works of the group’s ongoing projects, namely Vivo Executive Apartment and Viluxe, to comply with the full Movement Control Order (MCO) imposed by the Malaysian government to curb the spread of the Covid-19 infection in the country, as well as the severe supply chain disruptions and unskilled foreign labour shortage due to the temporary entry ban to Malaysia, has severely impacted the construction progress.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.
Unlock unlimited access to premium articles with less than $9 per month. Subscribe Now