KPMG's resignation part of routine governance practice, says Bina Darulaman

• Bina Darulaman said the transition “will not affect BDB’s financial integrity” as KPMG has not audited BDB’s financial reports for the financial year ending Dec 31, 2024 (FY2024).

KUALA LUMPUR (Sept 19): Bina Darulaman Bhd (KL:BDB) said the resignation of its external auditor KPMG four months after its reappointment “is part of a routine governance practice” following the extension of its tenure.

In a statement, BDB said the transition “will not affect BDB’s financial integrity” as KPMG has not audited BDB’s financial reports for the financial year ending Dec 31, 2024 (FY2024).

“BDB and its board of directors remain fully committed to upholding the highest standards of corporate governance, following the guidelines set out in the Malaysian Code of Corporate Governance 2021 (MCCG 2021),” it said.

KPMG had served as the external auditor of the Kedah state-linked company for 10 years from FY2014 to FY2023, the statement said.

At the time KPMG’s resignation was announced, BDB had said it was “based on mutual consent to enable the company to benefit from fresh perspectives and views of another audit firm”.

BDB has shortlisted BDO PLT as its new auditor, pending the completion of the official documentation to finalise the appointment and align with strategic objectives.

“The board of directors of BDB also would like to emphasise that this transition will not impact BDB's operations. The group is dedicated to its business activities and will continue to meet all regulatory requirements,” it said.

Shares of BDB traded up half a sen or 1.7% at 30 sen at the time of writing, giving it a market capitalisation of RM89.64 million.

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