PETALING JAYA: MAA Group Bhd
's external auditors, Messrs KPMG PLT, have expressed an unqualified audit opinion accompanied by a material uncertainty related to going concern for the audited financial statements for the financial year ended June 30, 2026.
In a filing with Bursa Malaysia, MAA noted according to the extract of the Independent Auditors' Report, MAA’s financial statements were prepared under the historical cost basis and on a going concern assumption.
However, the Group faced substantial financial pressures during the year under review. MAAG recorded net losses of RM106.9mil for the financial year ended June 30, 2026.
The Group’s current liabilities reached RM102.5mil, exceeding its current assets of RM99.4mil.
KPMG stated these conditions indicate the existence of material uncertainties that may cast significant doubt on the Group's ability to continue as a going concern and meet its financial obligations over the next twelve months.
MAA's board believes the current financial condition is temporary and remains confident in the Group's continuity.
The group has outlined four key mitigation actions to stabilise financial performance and ensure liquidity.
On option is asset disposals. MAA plans to sell equity interests in non-consolidated entities, identified real estate properties and a hotel operation, which are expected to raise RM139.1mil in proceeds.
The group is also looking at loan recovery. Ongoing initiatives to recover credit-impaired loans within its financial services division are projected to yield RM38mil in gross settlements.
MAA has secured funding via investment notes issued by a subsidiary and is actively pursuing further note issuances. Finally the Group continues to receive financial backing from a substantial shareholder.
