It pointed out that during the year, certain loan covenants for the borrowings relating to the debt service cover ratio and total debts/Ebitda ratio were breached, of which subsequent to the financial year-end, the group had obtained indulgence from the bankers for the breaches.
PETALING JAYA: NPC Resources Bhd
’s external auditor, Messrs Ernst & Young PLT (EY) has expressed unqualified opinion with material uncertainty related to going concern in the audited financial statements of the company for the financial year ended Dec 31, 2020 (FY20).
The company told Bursa Malaysia that EY had said that the Sabah-based oil palm plantation firm incurred a net loss of RM13.89mil in FY20.
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