The Group recorded a loss before tax mainly resulted from the loss
recognised from deconsolidation of non-operating subsidiaries of RM28.0 million due to reclassification of foreign currency translation reserves.

In addition, due to the significant devaluation of RM during the year, Group also recorded a foreign exchange loss of RM14.8 million.

Firstly, PIBG 4QFY23 accounts/financial statements were split into 2: 1 Continuing operations; 2 Discontinued operations
PIBG disposed businesses in Germany, America and completed this disposal in 14th December last year. This financial result is as at 31st December '23 and this includes deconsolidation costs from disposed businesses or discontinued operations EXCLUDING revenue from Discontinued operations e.g. Germany

PIBG is moving away from EU & America EXCEPT Rest of EU e.g. Greece which is a good thing & moves towards SEA, China & Taiwan. PIBG also have 2 companies which are dormant incorporated in India & Indonesia.

Business in Rest of EU including Eastern EU, Greece, SEA, China & Taiwan is increasing from MYR5.5mil in previous quarter to MYR7.9mil. Greece recorded MYR6.2mil loss while SEA+China+Taiwan made money MYR1.866mil.
PIBG achieved MYR21.7mil compared to MYR20.5mil y-o-y. Loss before tax resulted from; i deconsolidation of non-operating subsidiaries when the group change their foreign trade/reserves currencies to MYR

It is important to note that Loss shown in Announcement including from Discontinued operations or Disposed businesses/entities

PIBG has until 13 December 2024 to submit their regularisation plan EXCLUDING extension.

PIBG's Prospect; PIBG will continue building and growing its remaining business in Asia. PIBG will focus its business as distributor of stationery in China/Taiwan, SEA & Greece. PIBG is aiming to to tap schools and businesses in China + Taiwan. De-dollarisation is now on going. Expect stable foreign currency exchange in future.