External Auditor Resigns — ICT Company’s Market Open Draws Attention
(Kuala Lumpur, Feb 16) Most Asian stock markets opened higher this morning, with Malaysian equities ...
(Kuala Lumpur, Feb 16) Most Asian stock markets opened higher this morning, with Malaysian equities tracking the broader regional gains. As of 9:15 a.m., the FBM KLCI stood at 1,716.47, up 1.31 points or 0.08%.
The benchmark index opened at 1,717.63 and briefly climbed above the 1,720 level, hitting an intraday high of 1,721.48 before easing back to 1,716.47.
Trading activity in early session totaled 255.14 million shares worth RM162.65 million. Market breadth showed 241 gainers, 161 decliners, and 375 unchanged counters.
NexG sees auditor resignation, new appointment pending
ICT solutions provider NexG (NEXG, 5216, Main Market Technology) announced yesterday that its external auditor, Baker Tilly Monteiro Heng, has resigned. The firm cited significant changes to NexG’s board since its appointment in September last year.
NexG said the resignation took effect on Wednesday (14th). The audit firm noted that the current board composition differs materially from what was reviewed during the initial business assessment. With the audit yet to commence and the overall business situation now different from earlier evaluations, Baker Tilly decided to step down.
Separately, NexG disclosed that its Audit and Risk Management Committee has approved the appointment of SBY Partners as the new external auditor, subject to the firm’s written acceptance.
NexG shares fell 2 sen or 6.35% to 29.5 sen this morning.
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