Its wholly-owned subsidiary, MBf Factors, managed a lower pre-tax profit of RM2 . 6 million compared with RM9 . 1 million previously, due to the rising cost of funds and also an increased provision for doubtful debts.
42.
The two methods are not mutually exclusive, and some businesses will have a provision for doubtful debts, writing off specific debts that they know to be bad ( for example, if the debtor has gone into liquidation .)
43.
Pengkalen Holdings also announced a group pre-tax loss of RM81 . 32 million for the nine months ended Dec 31, 1997 as a result of a RM76 . 29 million provision for doubtful debts-mainly for its stockbroking arm.
44.
During the year, the company reported an exceptional gain of $ 21.5 million after the deduction of an $ 8 million loss on provision for doubtful debt from a $ 29.5 million gain on disposal of investment properties.
45.
The losses were blamed on significant increases in financial costs, construction contract losses due to unforeseen circumstances, investment losses in quoted shares, unexpected escalation in project costs not provided for, provisions for doubtful debts and escalation of costs.
46.
THE net profit last year of Shougang Concord International Enterprises plunged 97 . 9 per cent to $ 2 . 09 million from $ 100 . 4 million in 1996 because of provisions for doubtful debts and foreign exchange investments.
47.
For the period reviewed, pre-tax profit of Southern Bank declined by 29.7 per cent to RM12.2 million from RM173.7 million previously due mainly to changes in loan classification, increased provision for doubtful debts and provision for diminution in value of assets.
48.
During the year, the company reported an exceptional gain of $ 21 . 5 million after the deduction of an $ 8 million loss on provision for doubtful debt from a $ 29 . 5 million gain on disposal of investment properties.
49.
Despite a 7 per cent growth in revenue to RM6.44 billion, the company's expenditure rose 27 per cent to RM7.29 billion, principally due to impact of the weak ringgit, exchange losses, higher finance charges, depreciation, provision for doubtful debts and the Y2K programme implementation.
50.
Swiss Bank Corp . charged 3.3 billion francs ( dlrs 2.4 billion ) for these purposes and increased provisions for doubtful debts and contingencies to 1.4 billion francs ( dlrs 1 billion ), up from 1 billion francs ( then dlrs 868 million ) in 1995.
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