Maxland Board Taking Measures to Address Issues Highlighted in Auditor's Report

MT Newswires Live

Nov 04, 2024

Maxland (KLSE:MAXLAND) board said it carrying out measures to address issues highlighted in the auditors' report for the financial period ending June 30, according to a Friday Malaysian bourse filing.

The report highlighted a gross loss of around 31.5 million ringgit, and a net loss of 61.2 million ringgit. It also showed current liabilities exceeding current assets by 69.8 million ringgit.

The processed wood product seller said it is in talks with a creditor to resolve the 59 million ringgit debt owed by its unit Sinora, hoping that the creditor will not reinforce repayment of this amount within the next year.

Additional liabilities include an 20.6 million ringgit related to an arbitration which is currently under appeal, the filing noted.

Price (MYR): $18239.92, Change: $+140, Percent Change: +0.80%

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