KUALA LUMPUR: Property developer Sentoria Group Bhd
has triggered Bursa Malaysia Securities Bhd’s Practice Note 17 (PN17) criteria based on the company’s unaudited consolidated financial statements for the financial year ended Sept 30, 2024.
In a filing to Bursa Malaysia Bhd, Sentoria said the auditors had highlighted a material uncertainty related to the ability of the company and group to continue as a going concern in the company’s audited financial statements for the period ended Sept 30, 2023.
The auditors pointed out that shareholders’ equity (SE) was 89 per cent against its issued and paid-up capital (excluding treasury shares) (SC) for the period.
"Based on the recent fourth quarter of 2024 results, its SE position is 33 per cent against its SC, which has now triggered prescribed criteria under PN17.
"Whilst another assessment made had resulted that Sentoria was experiencing an insignificant business or operations when the reported consolidated revenue for the year ended Sept 30, 2024, is less than five per cent of its SC,” it said. - Bernama
