BGMC International Limited announced that based on its preliminary assessment of the unaudited consolidated management accounts of the Group for the financial period ended 30 September 2020 the Group expects to record a net loss of not less than MYR 170 million, as compared to the net loss of approximately MYR 55 million for the corresponding year in 2019. Based on the information currently available to the Board, the increase in net loss for FY2020 was mainly attributable to, among others, (i) higher impairment of trade receivables and property, plant and equipment; (ii) provision for expected loss due to termination of a project by a client; (iii) estimated liquidated and ascertained damages provided for certain construction contracts; and (iv) impairment of certain contract assets.