Aspen Group expects net loss for FY23

The Group will release its financial results on or before 29 August.

Aspen Group is expecting a net loss for the financial year 2023 following the preliminary review and assessment of information, including the unaudited consolidated financial statements.

In a profit guidance, Aspen Group said the expected loss is mainly due to the value of the factory buildings established at Lot 60230 of Seksyen 11, Bandar Lunas, Daerah Kulim, Negeri Kedah that was written off in its indirect subsidiary Aspen Glove Sdn. Bhd’s books after a deed of mutual termination.

ALSO READ: Aspen Glove files winding up petition

Also contributing to the projected net loss is the fair value loss on investment due to the divestment of its indirect subsidiary Aspen Vision Properties Sdn Hbd’s entire interest in Global Vision Logistics Sdn, Bhd.

Aspen Group advised shareholders and potential investors to exercise caution in dealing with or trading its securities.

The company’s financial results will be released on or before 29 August.

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