KUALA LUMPUR: Destini Bhd
posted a massive RM237mil net loss in the last quarter ended Dec 31, 2019 (FY19) after the company reviewed its long-term contracts.
For the full year, the company recorded a net loss of RM235mil.
Total revenue was RM297mil, down from RM401mil previously.
"Seeing the challenges the Group underwent during FY19, Destini’s management decided to review its long-term contracts and do a reconciliation of its accounts in the fourth quarter of which includes a provision and impairment on its assets and goodwill amounting to RM145.17mil," Destini said in a filing with Bursa Malaysia today.
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