– A + A (Sept 30): Based on corporate announcements that made news on Friday, stocks in focus on Monday (Oct 3) may include Sarawak Cable Bhd, Cypark Resources Bhd, MISC Bhd, Malaysia Building Society Bhd, Mudajaya Group Bhd, Pestech International Bhd, Encorp Bhd, Ageson Bhd, Barakah Offshore Petroleum Bhd, Lion Industries Corp Bhd and Destini Bhd. Sarawak Cable Bhd has triggered Practice Noted 17 status after its external auditor Ernst and Young PLT expressed a disclaimer of opinion on its audited financial statements for the 17-month period ended May 31, 2022 (FY22). This occurred as it was not able to obtain sufficient appropriate audit evidence to provide a basis for an audit opinion on the financial statements. EY was awaiting the group’s directors to finalise a proposed regulation plan after financial institutions suspended the cable and wire producer's credit facilities, following a restraining order blocking any winding-up petitions, legal suits or enforcement proceedings on the group and its subsidiaries. Cypark Resources Bhd booked its weakest quarterly results since 2017, as net profit for the third quarter ended July 31, 2022 (3QFY22) fell 29.2% to RM11.8 million from RM16.68 million, dragged by lower revenue as most of its LSS contract… Read full this story
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