"KUALA LUMPUR (April 4): Metal roofing and safety glass maker Ajiya Bhd saw a deviation of over 22% between its unaudited and audited financial statements for the financial year ended Nov 30, 2016 (FY16).
Ajiya said there is a RM4.22 million or 22.54% deviation in terms of profit after taxation and minority interest (Patami) between the two sets of financial statements, after its external auditor Messrs Ernst & Young completed the audit for FY16 accounts.
Ajiya reported a Patami of RM18.712 million in the unaudited financial statements for FY16, compared to a Patami of RM14.494 million in the audited one.
Bulk of the variance, according to the group, was due to dividend to minority interest of a subsidiary company amounting to RM2.9 million, which was not added to the amount attributable to minority interest at group level.
Secondly, the group also did not take into account additional bad debts, foreign exchange loss and other administrative expenses amounting to RM1.01 million in the unaudited financial statement.
The remaining RM309,000 came from additional provision for taxation and deferred taxation for the year.
Ajiya, however, did not state why the errors occurred."
I don't think is just the issues of incompetent internal accountants. That is also if it is really their faults. CFO and the management board are the ones who verify and made the final decision to submit to Bursa.
DEVIATION OF 10% OR MORE BETWEEN THE UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2016 AND AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2016
Nothing to worry. It's a profit making company. The 4th quarter is coming out soon this month. I guess it is going to be impressive. Otherwise the price will not be moving up almost every day except for today
@bochiakak yeah agree is a profit making company but reducing profit making company, every quarter dropping and share price should correlate with it except if there's other thing in the pipe we don know
mamatede, yeah! I think there is something impressive in the coming announcement which we dont know. Anyway, report will be out soon. For me, I will be holding on to it untill the announcement. Looking at the movement of the price, I am quite confident something nice is coming!!!
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VenFx
14,784 posts
Posted by VenFx > 2017-03-31 15:04 | Report Abuse
jay111 ,
U owe me a SORRY .