Lion Asiapac Limited’s First Quarter saw significant upheaval following the completion of a major subsidiary disposal, Compact Energy Sdn Bhd (CESB). This transaction fundamentally impacted the financial results, leading the Group to incur an expected loss due primarily to required accounting adjustments related to foreign currency reserves. Despite this, the core continuing operations showed growth, and the Group plans to strengthen these activities amidst an uncertain economic climate.
 
• A major subsidiary disposal was finalized, leading to a financial loss due to the de-consolidation of foreign currency translation reserves
 
• The Group's remaining core businesses achieved higher top-line performance, driven by increased trading and roofing solution supply
 
• The future strategy involves focusing on core growth areas and exploring new opportunities, exercising prudence due to the uncertain economic outlook

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