KUALA LUMPUR: Shocked by the purported accounting irregularity at Transmile Group Bhd, Khazanah Nasional Bhd has ordered an inquiry into the air-cargo operator. Khazanah unit, Pos Malaysia, is the second largest investor in Transmile after Malaysia’s richest man, Robert Kuok.
Transmile shares plunged by RM2.90 after the stock resumed trading yesterday, closing the day at RM6 in a knee-jerk reaction to news that the company may have overstated its revenues by as much as RM530mil for financial years 2005 and 2006.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
