A True And Fair View Of The Financial Position In Audited Financial Statements For The Financial Period From 1 January 2022 To 30 June 2023 Except For Possible Effects Noted In Basis For Qualified Opinion
| Type | Reply to Query |
| Reply to Bursa Malaysia's Query Letter - Reference ID | IQL-24012024-00001 |
| Subject | A TRUE AND FAIR VIEW OF THE FINANCIAL POSITION IN AUDITED FINANCIAL STATEMENTS FOR THE FINANCIAL PERIOD FROM 1 JANUARY 2022 TO 30 JUNE 2023 EXCEPT FOR POSSIBLE EFFECTS NOTED IN BASIS FOR QUALIFIED OPINION |
| Description | YNH PROPERTY BHD ("YNH" OR "COMPANY") A TRUE AND FAIR VIEW OF THE FINANCIAL POSITION IN AUDITED FINANCIAL STATEMENTS FOR THE FINANCIAL PERIOD FROM 1 JANUARY 2022 TO 30 JUNE 2023 EXCEPT FOR POSSIBLE EFFECTS NOTED IN BASIS FOR QUALIFIED OPINION |
| Query Letter Contents |
We refer to your Company's reply to query announcements dated 1 November 2023, 6 November 2023 and 7 November 2023, in respect of the aforesaid matter. In this connection, kindly furnish Bursa Malaysia Securities Berhad with the following additional information for public release:- 1. We note from the announcements that YNH would further appoint a professional firm to conduct an independent review of the Joint Venture Agreements, Turnkey Construction Agreements and all supplemental agreements indicatively on the week of 20 November 2023 and the estimated completion on the week of 15 April 2024. Please provide the current status of this appointment, which shall include the following: (a) Name of the professional firm appointed and the date of appointment. (b) Scope of work together with the relevant timeline of the independent review. (c) Where a professional firm has not been appointed, the reason/cause for the delay together with the new timeline for the appointment and completion date of the independent review. Please furnish Bursa Securities with your reply within one (1) market day from the date hereof. Yours faithfully Listing Regulation cc:- Market Surveillance, Securities Commission |
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Reference is made to the Company’s reply to query announcements dated 1 November 2023, 6 November 2023 and 7 November 2023 respectively (“Announcements”) and query from Bursa Malaysia Securities Berhad (“Bursa Securities”) vide its letter dated 24 January 2024 in relation to the “A True and Fair View of the Financial Position in Audited Financial Statements for the financial period from 1 January 2022 to 30 June 2023 except for possible effects noted in basis for Qualified Opinion”.
(Unless otherwise stated, the definitions set out in the Announcements shall apply herein.)
The Company wishes to announce that no professional firm has been appointed as at the date of this announcement for the independent review. Due to the vacancy in the position of the Audit Committee Chairman (“ACC”), the Company is actively identifying and inviting suitable candidates to fill the vacancy. Thereon upon the appointment of new ACC, the audit committee shall evaluate the existing completed report available and consult the new auditor on the result of these report before further deliberate on the need of the appointment of another review which scope is very similar to the existing report.
Upon evaluation by the audit committee, the Company will make an announcement regarding the audit committee's decision on whether a professional firm is required for the independent review.
This announcement is dated 26 January 2024. |
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Announcement Info
| Company Name | YNH PROPERTY BERHAD |
| Stock Name | YNHPROP |
| Date Announced | 26 Jan 2024 |
| Category | General Announcement for PLC |
| Reference Number | GA1-26012024-00047 |