Sentoria’s external auditor issues disclaimer of opinion on financial statements; shares to resume trading on May 14 after filing annual report

• Pertaining to the auditor’s disclaimer, Messrs Kreston John & Gan highlighted that there were material uncertainties that may cast significant doubt on Sentoria’s ability to continue as a going concern, the group said in a filing with Bursa Malaysia on Tuesday.

KUALA LUMPUR (May 13): Sentoria Group Bhd (KL:SNTORIA) said its external auditor Messrs Kreston John & Gan had expressed a disclaimer of opinion on the group's audited financial statements for the 15-month period ended Dec 31, 2024, due to insufficient audit evidence.

In a separate filing, Sentoria announced that its shares will resume trading on May 14 after submitting its annual report on May 13. The stock has been suspended since May 9.

Pertaining to the auditor’s disclaimer, Messrs Kreston John & Gan highlighted that there were material uncertainties that may cast significant doubt on Sentoria’s ability to continue as a going concern, the group said in a filing with Bursa Malaysia on Tuesday.

The basis for the disclaimer of opinion relates to Sentoria's net loss of RM96.9 million for the period ended Dec 31, 2024, and the fact that the group's current liabilities exceeded its current assets by RM600.41 million.

Sentoria has been classified as a Practice Note 17 (PN17) company since Dec 4, 2024, and the group now has approximately seven months to submit its regularisation plan to Bursa Malaysia.

Besides that, Messrs Kreston John & Gan highlighted that on March 28, Sentoria had defaulted on its debt restructuring scheme under the Corporate Debt Restructuring Committee (CDRC) due to a breach of financial covenants in the restructuring agreements. As of Dec 31, 2024, the group’s total borrowings stood at RM452.31 million.

Sentoria’s three wholly owned subsidiaries—Sentoria Borneo Land Sdn Bhd, Sentoria Borneo Samariang Sdn Bhd, and Sentoria Morib Bay Sdn Bhd—were placed under receivership in April 2025.

Sentoria shares were last traded at 0.5 sen, giving the group a market capitalisation of RM3.11 million.

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