Chasen incurs $6.57m loss in FY24

The company attributed the loss to the demolition of 18 Jalan Besut.

Chasen posted a $6.57m net loss in FY24 after demolishing 18 Jalan Besut for a new integrated logistics hub.

In the same period, the company reported declines in its gross profit and revenue.

FY24 gross profit was $12.8m, down 28% compared to FY23/

Meanwhile, revenue declined 17% YoY due to the uncertain global economic environment amidst escalating geopolitical tensions, and the wars and conflicts in the Middle East that impacted investment sentiments and factory expansion plans.

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