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AUDIT REPORT - MODIFIED OPINION / MATERIAL UNCERTAINTY RELATED TO GOING CONCERN : QUALIFIED OPINION

LION INDUSTRIES CORPORATION BERHAD

Type Announcement
Subject AUDIT REPORT - MODIFIED OPINION / MATERIAL UNCERTAINTY RELATED TO GOING CONCERN
QUALIFIED OPINION
Description
LION INDUSTRIES CORPORATION BERHAD ("LICB" or the "Company") 
ISSUANCE OF QUALIFIED OPINION IN RESPECT OF LICB'S AUDITED FINANCIAL STATEMENTS FOR THE 18-MONTH FINANCIAL PERIOD ENDED 31 DECEMBER 2021
Pursuant to Paragraph 9.19(37) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the Board of Directors of the Company hereby announces that the Company's External Auditors, Messrs Deloitte PLT had expressed a “Basis for Qualified Opinion” on the Company's Audited Financial Statements for the financial period ended 31 December 2021 in respect of the opinion expressed by Messrs Grant Thornton Malaysia PLT, the external auditors of Parkson Holdings Berhad (“Parkson”), an associated company of the Company, of the financial impact arising from a subsidiary company of Parkson in Indonesia that was deconsolidated during the financial period. 

The Company's External Auditors has further opined that the financial statements accompanying the Independent Auditors’ Report give a true and fair view of the financial position of the Group and of the Company as at 31 December 2021, and of the Group’s and of the Company’s financial performance and cash flows for the 18-month financial period then ended in accordance with Malaysian Financial Reporting Standards, International Financial Reporting Standards and the requirements of the Companies Act 2016 in Malaysia.

The details of the External Auditors’ opinion together with the Key Audit Matters as disclosed in the Independent Auditors’ Report are attached herewith.

None of the Key Audit Matters disclosed in the Independent Auditors' Report relates to the qualified opinion referred thereto.

Parkson is an associated company in which the Company has no control over its financial and operating decisions. 



Please refer attachment below.

Attachments

Independent Auditors Report.pdf
548.4 kB



Announcement Info

Company Name LION INDUSTRIES CORPORATION BERHAD
Stock Name LIONIND
Date Announced 26 Apr 2022
Category General Announcement for PLC
Reference Number GA1-26042022-00010




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