Ykgi has positive net cash flow from the operating activities as stated in the most recent Annual report FY 2016. Hope Ykgi will start to move uptrend soon.
Conclusion from the matter arising of the MODIFIED OPINION/ MATTER DATED 21 APR 2017
In relation to the above, the Board wishes to advise on the following:- (i) The Independent Auditors have expressed unqualified opinion on the FS2016 and that their opinion is not modified in respect of the Statement on that matter; (ii) YKGI has already started the process of addressing the net current liabilities through asset disposal which was completed in early February 2017 and implementation of business turnaround plan. In 2016, YKGI Group registered an improvement of its profitability with an operating profit of RM2.09 million compared to an operating loss of RM19.82 million in 2015; and (iii) YKGI Group is continuously improving its production efficiency with the view of achieving better production yield and lower production cost. To achieve that, the Group is doing realignment of product mix, production scheduling and staff redeployment exercise.
there shall be turnaround on YKGI should the actions taken coincide with the promised improvement in the revenue and production efficiency including employment stated issues.
come on.. turnaround? RM81k profit for 1 qtr. Less than RM30k per month.
total liabilities exceeds current assets and auditors had expressed their concern over this.
although we can see the management's effort in bringing down the total liabilities over the years, and the cash flow is good, but its still too early to say this is a turnaround.
YKGI just changed the reporting format for Statements of Profit and Loss starter 2017. It is more difficult to compare with QR reported previously. Transparency is getting lower. Sigh.
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hisehatu
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Posted by hisehatu > 2017-04-17 23:02 | Report Abuse
Shit! Dapat surat saman.