KUALA LUMPUR: Property management system provider JagaSolution Bhd’s external auditor, Crowe Malaysia PLT, has flagged a material uncertainty related to the company’s ability to continue as a going concern in its audited financial statements for the financial year ended June 30, 2025.
The auditor highlighted that as of June 30, the group’s current liabilities exceeded its current assets by RM229,106, though the company reported positive operating cash flow.
The group and company posted a profit and loss after tax of RM608,036 and RM186,202, respectively.
“These events or conditions indicate that a material uncertainty exists which may cast significant doubt on the ability of the group and the company to continue as going concerns. Our opinion is not modified in respect of this matter,” the auditor said.
JagaSolution said its board has taken measures to strengthen the group’s financial position, including targeted cost-saving initiatives such as reducing system maintenance expenses and streamlining operations.
These efforts have helped the group achieve profitability in the first quarter ended Sept 30, 2025.
JagaSolution said a director, who is also a substantial shareholder of the group has also committed to provide financial support when necessary to ensure adequate cash flow for daily operations.
Additionally, the board is exploring collaborations to expand its customer base into new geographical regions, which it expects will support long-term profitability.
“Barring unforeseen circumstances, the Board expects to address the matters as mentioned above within the next subsequent year.”
