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In the Sept 2025 quarter, purely from the main business perspective, PESTEC is still losing money, which you can see from their operating loss of 7.2 million. Coupled with their financial commitments, PESTEC lost 16 million.
However, accounting is a funny and confusing thing.
In the previous quarter (June 2025), PESTEC got a huge debt waiver of 202 million (meaning, PESTEC do not have to pay back 202 million to those that they owed money to, very sad for those people). In accounting, this is considered something PESTEC "gains" / "untung" / "賺到" (hence the sky high "profit" you see in the last quarter). Due to this "gain", PESTEC thought that they need to pay tax for it, hence they calculated (just put in their report only, not yet actually pay) a 36 million tax in their June 2025 quarter.
For the quarter of June 2025, if you take the debt waiver out, they lose money also.
However, PESTEC later found out that, "Eh, this debt waiver "gain" actually does not need to pay tax lah!". So in the Sept 2025 quarter, they contra that 36 million tax out. Since earlier quarter they minus 36 million, now they plus back that 36 million. So, from the accounting side, this 36 million looks like a "gain", large enough to cover their 16 million actual loss. Hence the 20 million "profit" that you see.
For the recent debt waiver, I think Pestec set aside before some money for tax. Now they know the set aside tax money no need to pay the tax (for some reason, maybe court or what not sure), so the money back into company account as money in. That’s why final result become profit.
But in term of pure operation only, they losing money. If I’m wrong somewhere, anyone can correct me.
