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Annual Report
2020
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Announcements

Date : 11 June 2021

AUDIT REPORT - MODIFIED OPINION / MATERIAL UNCERTAINTY RELATED TO GOING CONCERN : MATERIAL UNCERTAINTY RELATED TO GOING CONCERN

BERTAM ALLIANCE BERHAD

Type Announcement
Subject AUDIT REPORT - MODIFIED OPINION / MATERIAL UNCERTAINTY RELATED TO GOING CONCERN
MATERIAL UNCERTAINTY RELATED TO GOING CONCERN
Description
BERTAM ALLIANCE BERHAD ("BERTAM" OR "THE COMPANY")

ISSUANCE OF UNQUALIFIED AUDIT OPINION WITH EMPHASIS OF MATTER ON MATERIAL UNCERTAINTY RELATION TO GOING CONCERN IN RESPECT OF BERTAMS AUDITED FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2020

Pursuant to paragraph 9.19(37) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, kindly note that the Company’s external auditors, Messrs PKF, had included an emphasis on the Company’s material uncertainty related to going concern in the Independent Auditors’ Report dated 28 May 2021 in relation to the financial statements of the Group for the financial year ended 31 December 2020. In view of the impact on operational challenges caused by the COVID-19 pandemic and the movement control order imposed by the Government,  disruptions had been caused to many industries that had led to the impact on the Group’s operations and ability to obtain financing and commence development works.  

 

Emphasis of Matter by Independent Auditors

 

“We draw attention to Note 2 in the financial statements, which indicates that the Group incurred a net loss of RM40,838,529 and negative operating cash flows of RM818,028 during the financial year ended 31 December 2020 and, as of that date, the Group’s current liabilities exceeded its current assets by RM33,587,649, and the Group continues to be in default of its borrowing obligations totalling RM767,601. As stated in Note 2, these events or conditions, along with other matters as set forth in Note 2, indicate that a material uncertainty exists that may cast significant doubt on the Group’s ability to continue as a going concern. Our opinion is not modified in respect of this matter.”

 

None of the Key Audit Matters Disclosed in the Independent Auditors’ Report relates to the above Emphasis of Matter.

 

 

This announcement is dated 11 June 2021.   






Announcement Info

Company Name BERTAM ALLIANCE BERHAD
Stock Name BERTAM
Date Announced 11 Jun 2021
Category General Announcement for PLC
Reference Number GA1-11062021-00076



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