Including the interim payment of RM12 million received by the group in October 2022, QAF and its insurer have reached a final settlement sum of approximately RM33 million for its consequential loss claims.
QAF Limited (SGX:Q01
) has announced its final receipt of RM21 million ($6.3 million) in insurance claims relating to flooding at the group’s Malaysian bakery factory in December 2021.
This payment will be recognised as an exceptional gain in the group’s financial results for 2HFY2023 and FY2023, with an estimated tax liability arising from this payment will be RM5 million.
