CapAllianz Holdings Limited provided consolidated earnings guidance for the financial year ended 30 June 2023. The group is expected to report a net loss for financial year 2023. The net loss for fiscal year 2023 was mainly attributable to a significant decline in other income, partially offset by a significant decrease in other charges, primarily due to the absence of the following one-off items in fiscal year 2023, which were recognised in the previous corresponding financial year: gain on settlement of term loan with OCBC Bank (under other income); gain on recovery of loan extended to the Group's associated company (under other income); provision of impairment on other receivables (under other charges); and allowance for obsolescence of drilling equipment and spare parts in relation to the Group's 20%- interest in the Thailand onshore oil concessions located in Phetchabun Basin (under other charges).
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