Olympia Industries served with ‘going concern’ opinion

PETALING JAYA: Investment holding firm Olympia Industries Bhd says its external auditors Messrs Ernst & Young PLT has issued the company an “unqualified opinion with material uncertainty related to going concern”.

The opinion issue was premised on Note 2.1 of the group’s financial statements as at Dec 31, which showed that its current liabilities exceeded its current assets by RM28.3mil, despite the Olympia Industries group and company having net assets of RM352.4mil and RM366.6mil respectively.