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50.3% variance in Talam's reported losses |
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Written by Patrick
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Wednesday, 06 September 2006 |
 PETALING JAYA: Talam Corporation Bhd has announced a 50.3% variance in its reported losses between the company’s unaudited financial results and its audited financial statements for the year ended Jan 31.
In a filing to Bursa Malaysia yesterday, the company said this variance amounted to RM258.4mil.
The additional losses comprised several items, including additional
development cost of RM122.7mil due to revision in gross development
value as a result of changing market conditions and the company’s
market perception, which affected sales, it added.
Other items include additional provision for doubtful debts of
RM52.4mil and development expenditure written off amounting to
RM25.5mil due to change in the status of the company’s on site
construction activities, it told Bursa.
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