PETALING JAYA: Cropmate Bhd has announced that its external auditors have issued an unmodified audit opinion with a material uncertainty related to going concern for the financial year ended Dec 31, 2025 (FY2025).
In a filing with Bursa Malaysia, the fertiliser manufacturer said this is due to certain bank accounts being frozen by authorities and uncertainty surrounding how long the restrictions will last and their financial impact.
It said Messrs Kreston John & Gan noted that the restrictions - linked to an ongoing investigation by the Malaysian Anti-Corruption Commission - could raise significant doubt about the group’s ability to continue operating.
“The duration of the restrictions on the affected bank accounts, and the resulting impact are presently uncertain. These events and conditions indicate that a material uncertainty exists that may cast significant doubt on the group’s ability to continue as a going concern.
“Our opinion is not modified in respect of this matter,” it said.
