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The revenue of RM5.7 million in FY24 is slightly higher than the revenue of RM5.3 million in FY23, as the occupancy rate is similar for the two financial years. However, the LBT of RM13.5 million in FY24 is significantly higher compared to RM0.9 million in FY23, due to an impairment loss of RM9.3 million on amount owing by an associate in Q4FY24 and the absence of a one-time reversal of impairment loss on property, plant and equipment amounting to RM2.6 million, which was reported in Q4FY23. In addition, the higher operating expenses incurred in FY24 also led to further losses in FY24. Going Forward, the Group is in the midst of planning and scheduling refurbishments and renovation to upgrade the condition of the Corus PD Hotel. The management believes that such refurbishments and renovation will enhance Corus PD Hotel’s appeal to local and foreign tourists, positioning Corus PD Hotel as a more competitive option among hotels and resorts in the region. By improving its attractiveness, Corus PD hotel is expected to command a higher room rate and also achieve increased occupancy rate, which in turn will boost its revenue and profitability.

The Group reported a higher revenue of RM1.6 million in Q1FY23 compared to RM1.0 million in Q4FY22 as the business performance for the preceding quarter was affected by a low occupancy rate during the fasting month in April 2022. In tandem with the higher revenue, the Group’s LBT was narrowed to RM0.4 million in Q1FY23 compared to RM0.9 million in the preceding quarter

The Group reported a lower revenue of RM1.1 million in Q4FY22 compared to RM1.3 million in Q3FY22 as the business performance for Q4FY22 was affected by a lower occupancy rate during the fasting month in April 2022. Due to lower revenue and an increase in total expenses of the current quarter, the Group’s LBT increased from RM0.4 million in the preceding quarter to RM0.9 million in the current quarter.

The Group reported PBT of RM1.6 million in Q2FY22 compared with an LBT of RM0.4 million in the preceding quarter mainly due to a one-off reversal of provision for service charges and increase in the revenue. The occupancy rate for our hotel improved substantially from 6.1% in the preceding quarter to 37.6% in Q2FY22

Despite the lower revenue, our Group managed to post a lower loss before taxation of RM0.3 million compared with a loss of RM3.5 million in the previous fi nancial year, due to lower operating expenses and a higher reversal of impairment on financial assets. Mindful of the challenges ahead, we will continuously monitor developments and trends to adjust our strategies and directions for the sustainability of the business in the long-term.

The Group posted an LBT of RM0.3 million from a PBT of RM0.7 million in the preceding quarter due to lower reversal of impairment losses.

The Group saw its revenue dragged down by 83.2% due to the implementation of the Movement Control Order (MCO) which forced the Group’s hotel to be closed from March to June 2020. However, lower operating expenses narrowed its LBT for the current quarter.

In Financial Year End 2019, the directors’ remuneration was 0.14 million. It was low compared to average in listed companies, considering the employees’ remuneration of 2.9 million and auditor’s remuneration of 73 thousands