PLB Engineering's auditor flags material uncertainty over group’s ability to continue as going concern
The auditor, Messrs Grant Thornton Malaysia PLT, highlighted PLB Engineering’s net loss of RM27.
The auditor, Messrs Grant Thornton Malaysia PLT, highlighted PLB Engineering’s net loss of RM27.
Baker Tilly Monteiro Heng PLT noted that as at June 30, Ireka’s current liabilities exceeded its current assets by RM48.
The independent review was carried out at the request of Baker Tilly to determine the possibility of related party transactions concerning JV and turnkey contracts entered into by YNH.
Furthermore, audit checks uncovered that 54 rental offer letters had been returned by tenants, but rental agreements had not been prepared.
Kreston John & Gan's term of office will end 21 days after the resignation notice date of Aug 9 in line with the Companies Act 2016, said the piling and engineering company in a bourse filing.
The auditor said it was also unable to obtain sufficient audit evidence in relation to Ivory Properties' plan to source for an interested party to dispose of a parcel of land held for future development.
"The board of directors wishes to announce that no forensic auditors have been appointed due to budgetary constraints and financial limitations that may restrict the organization’s ability to engage the services of forensic auditors during this period.
The auditor pointed to the group's and the company's accumulated losses of RM53.
The auditor, KPMG PLT, noted that financial statements indicated that the group incurred net losses of RM43.
KUALA LUMPUR (Sept 29): Up to 1,822 Malaysia My Second Home (MM2H) participants left the country for good between 2015 and 2019, Malaysiakini reported findings in the Auditor-General's Report 2019 Series 2.