Berjaya Corporation Bhd said enforcement action taken by the Pahang state authorities at its Berjaya Hills premises has no material financial or operational impact on the group, with its main operating facilities continuing to function as usual.
In a reply to Bursa Malaysia’s query, the company said the authorities had on Sept 28 sealed and restricted access to several facilities at Berjaya Hills, namely the staff quarters, central laundry, rabbit park and Japanese garden.
However, Berjaya Corp said its core operating premises, including The Chateau Spa & Wellness Resort, Colmar Tropicale Hotel, Berjaya Hills Golf & Country Club and the greenhouses, were not affected and remain fully operational.
The company said the enforcement action therefore does not materially affect the group’s financial performance or day-to-day operations.
Bursa had also sought clarification on the impact of revised annual quit rent rates applicable to Berjaya Hills.
Berjaya Corp said the higher quit rent rates, which took effect from 2020, had already been recognised through accruals in the relevant financial years up to the current financial year.
The accruals were based on the revised rates stated in quit rent demands issued by the relevant authorities.
As such, the company said the financial impact of the revised rates has already been reflected in its financial statements and that the changes have no material operational impact on the group.
