KUALA LUMPUR (June 3): Vantris Energy Bhd's (KL:VANTNRG) latest accounts have been cleared by its external auditors, marking the oil and gas services firm’s first clean audit outcome in four years.

Ernst & Young PLT has issued an unqualified audit opinion with no material uncertainty related to going concern on the company’s audited financial statements for the financial year ended Jan 31, 2026 (FY2026), Vantris said in a statement on Wednesday.

“The audit outcome represents an important milestone in the company’s financial turnaround and regularisation efforts” to exit Practice Note 17, or PN17 classification, Vantris noted.

An "unqualified audit opinion" means that its outside auditor concluded that the financial statements are accurate under prevailing accounting standards and present a true and fair view of the company's financial health.

The absence of "material uncertainty" in auditing parlance, meanwhile, means that the auditors found no risks such as cash crunch or major loss of revenue that would cast doubt on the company’s ability to stay afloat as a "going concern".

Bursa Malaysia’s PN17 status is a designation for financially distressed companies.

“The completion of our financial restructuring, significant reduction in borrowings and restoration of positive equity have placed Vantris Energy on a stronger financial footing,” said Vantris group CEO Muhammad Zamri Jusoh.

Vantris Energy shrank its total borrowings to RM5.5 billion during the past financial year from about RM10.8 billion following the approval of its regularisation plan. The company also fixed its balance sheet and now has total assets exceeding its liabilities by about RM3.0 billion.

The restructuring included funding support from Malaysia Development Holding Sdn Bhd which allowed the company to settle about RM1.1 billion owed to more than 1,400 local vendors.

“The restructuring has reduced our financing burden, restored positive equity and strengthened the group’s capital structure,” group chief financial officer Ganesh Gunaratnam said in the same statement.

The focus for Vantris is now to “preserve financial discipline, improve cash flow resilience and ensure that the group’s recovery is supported by sustainable, operations-driven performance”, he added.