Quick take: London Biscuits falls 11% after its auditor resigns


  • Stock on the Move
  • Monday, 06 Jan 2020

KUALA LUMPUR: LONDON BISCUITS BHD fell over 11% in early trade Monday after the company said Messrs Nexia SSY PLT resigned as its external auditor.

The confectionery manufacturer fell 11.11%, or one sen to eight sen with 2.04 million traded.

London Biscuits said its external auditor has resigned, as the firm does not have enough resources to provide reasonable professional due care to the company and its subsidiaries.

Messrs Nexia SSY PLT (Nexia) had tendered its resignation via a written notice given.

The auditor was re-appointed as London Biscuits’ auditor at its last annual general meeting (AGM) on March 29,2019, until its next AGM.

“The resignation was due to inadequate resources from Nexia, in order to provide reasonable professional due care to the company and its subsidiaries,” it said.

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