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Auditors doubt LionDiv’s ability to continue operations


Material uncertainty: Steel product manufacturing is one of the three main business segments of the group.

Material uncertainty: Steel product manufacturing is one of the three main business segments of the group.

 PETALING JAYA: Lion Diversified Holdings Bhd ’s (LionDiv) external auditors Ernst & Young (EY) have issued a disclaimer of opinion on the group’s financial statements for the 2017 financial year (FY17), casting doubt on its ability to continue as a going concern for the second year in a row.

The audit report filed with Bursa Malaysia yesterday showed that significant and multiple uncertainties, along with their possible combined effects on the steel product maker’s financial statements ended June 30, 2017, prevented EY from having enough audit evidence to make an audit opinion.

   

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