KUALA LUMPUR (May 31): Ageson Bhd, which is in the midst of finalising the appointment of new auditors, targets to issue its annual report for the financial year ended Dec 31, 2022 (FY2022) by October.  

“The company would make a separate announcement on the appointment of the new auditors upon the appointment is confirmed,” said the builder-cum-property developer in a stock exchange filing. 
 
Ageson’s share price was last traded at three sen. Bursa suspended the trading of its securities on May 10 amid the company’s failure to issue its FY2022 annual report by the April 30 deadline. 
 
The company then clarified that it could not find an auditor to audit its financials, causing the delay of the report. 

This follows the resignation of STYL Associates PLT in February due to resource constraints. STYL Associates was appointed as the company’s auditors in November 2022.

Since STYL’s resignation, the company has been actively searching for a new auditor and has approached 16 so far, with the majority of them declining the opportunity due to “resources constraints”. 

This month alone, the group has terminated five memorandum of understandings (MOUs) including the disposal of a 168-acre piece of industrial land in Perak to China’s Zhejiang Guorong Digital Economy Group Ltd.