8 September 2016, Kajang, Selangor, Malaysia - The cash depleting construction company Protasco Bhd had today announced on Bursa Malaysia the amendment made on significant material accounting mistakes and misrepresentations made on previous announcement, based on Quarterly rpt on consolidated results for the financial period ended 30 Jun 2016.

According to Bursa Malaysia announcement, Protasco remarks "made with respect to the Consolidated Statements of Cash Flow set out in page 6 on dividend paid to non-controlling interests amount of RM21,030,000, due to spreadsheet error. The amount has been amended to negative RM3,470,000, resulted in changes to the balances of Net Cash From Financing Activities and Cash & Cash Equivalents."

The recent down turn of construction and maintenance profit margin already raised investors concern. The fast diminishing cash flow tied to sluggish property development is triple jerpady to Protasco future. Despite accounting recognition of revenue and profit, bundled with questionable dividend "rush out" on one side, while announcing "cash call" private placemment on the other hand, sophisticated investors smell fish in the manufactured accounting practices.