The auditor said the disclaimer of opinion was issued as the firm had not been able to obtain sufficient appropriate audit evidence in respect of the estimates and assumptions made in the cash flow projections prepared by Meridian's management, assuming the group will continue as a going concern.
He is brother to Datuk Dr Teoh Seng Foo, who is the president and executive director of the company; and is also the brother of Teoh Seng Aun, who is the director of Ecofirst’s major subsidiaries, as well as a substantial shareholder.
KUALA LUMPUR (Sept 11): Vsolar Group Bhd, which undertook share placements and rights issue to raise fresh capital for the renewable energy business, has spent RM15.
KUALA LUMPUR (March 25): Meridian Bhd saw the emergence of Datuk Seri Lee Koon Weng as a substantial shareholder, after purchasing 7.
KUALA LUMPUR (March 7): Investor hopes have dimmed over Meridian Bhd “while its recent financial footing is raising a red flag”, reported The Edge Malaysia this week.
KUALA LUMPUR (July 31): Property developer Meridian Bhd, formerly known as Meda Inc Bhd, says its executive director Datuk Yap Ting Hau has been appointed as chief executive officer (CEO) of the group effective immediately.
KUALA LUMPUR (May 7): Meridian Bhd executive director Datuk Seth Yap today unveiled plans to develop the world's first Hasbro-themed water theme park at Meridian's Malaysia Tourism City (MTC) development in Kuala Linggi, Melaka, through a Hasbro licensing agreement secured by his private entity M101 Holdings Sdn Bhd.
KUALA LUMPUR (Dec 11): Mah Sing Group Bhd said its proposed acquisition of privately-held VIP Sanctuary Sdn Bhd has fallen through, due to an unsatisfactory outcome of the due diligence exercise.
KUALA LUMPUR (Sept 8): Gabungan AQRS Bhd has responded to Lien Hoe Corp Bhd’s letter of demand for an outstanding payment on a joint development, citing it as premature and misconceived.
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