KUALA LUMPUR (Oct 31): Ageson Bhd’s external auditor, Jamal, Amin & Partners is unable to provide a basis for an audit opinion on the company’s audited financial statements for the 18-month financial period ended Dec 31, 2022 (FY2022) as the group has failed to provide sufficient appropriate audit evidence.

In a local bourse filing on Tuesday, the builder-cum-property developer said it expects to resolve the issue relating to the disclaimer of opinion within the next financial year.

In May, the group highlighted it was in the midst of finalising the appointment of new auditors and targets to issue its annual report for the financial year ended Dec 31, 2022 (FY2022) by October.

Ageson’s share price was last traded at three sen. It was valued at RM9 million. Bursa Malaysia suspended the trading of its securities on May 10 amid the company’s failure to issue its FY2022 annual report by the April 30 deadline.

The company then clarified that it could not find an auditor to audit its financials, causing the delay of the report.

This follows the resignation of STYL Associates PLT in February due to resource constraints. STYL Associates was appointed as the company’s auditors in November 2022.

The group also terminated five memoranda of understandings (MOUs) in May including the disposal of a 168-acre piece of industrial land in Perak to China’s Zhejiang Guorong Digital Economy Group Ltd.