This is because the auditor could not obtain relevant supporting documents "to ascertain the existence, completeness and accuracy by alternative means" for certain trade payable balances as at Aug 31, 2024.
The group also plans to export the technology outside Malaysia.
The project is slated to be completed within 20 months, starting from the commencement date on Feb 3.
The five-star hotel offers 298 rooms and was designed in collaboration with Hirsch Bedner Associates, incorporating Baba-Nyonya-inspired aesthetics.
Kerjaya Prospek said the scope of the project, clinched through its wholly owned subsidiary Kerjaya Prospek (M) Sdn Bhd, includes the construction of 360 units of three-storey terrace houses, alongside a clubhouse, landscaping works, and other related infrastructure.
Relationships with key clients Exsim Development Sdn Bhd, Platinum Victory Sdn Bhd and Maxim Global Bhd, which stretches over five years, could yield potential contracts worth some RM4.
The group may also face the risk of delisting if it fails to issue outstanding financial statements within six months of the deadline.
Meanwhile, French-inspired 1- and 2-storey bungalows Reineville at Setia EcoHill have successfully held their handover and Owners Appreciation Day on Nov 24.
Melaka Domestic Trade and Cost of Living Ministry (KPDN) director Norena Jaafar: “Fraud cases involving home contractors often occur because homeowners hire unregistered contractors, connect with them through third parties or social media platforms like Facebook or fail to document agreements properly.
It also noted that the group’s and the company’s current liabilities exceeded their current assets by RM54.
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