Pursuant to Paragraph 9.19(37) of the Main Market Listing Requirements ("MMLR") of Bursa Malaysia Securities Berhad ("Bursa Securities"), the Board of Directors of the Company wishes to announce that the Company's External Auditors, PKF PLT, have expressed a qualified opinion in the Independent Auditors' Report on the audited financial statements of the Company for the financial period ended 28 February 2026.
1. QUALIFIED OPINION
The Auditors had provided the following opinion in the Auditors' Report:-
"In our opinion, except for the possible effects of the matter described in the Basis for Qualified Opinion section of our report, the accompanying financial statements give a true and fair view of the financial position of the Group and the Company as at 28 February 2026, and of their financial performance and their cash flows for the financial period then ended in accordance with Malaysian Financial Reporting Standards, IFRS Accounting Standards and the requirements of the Companies Act, 2016 in Malaysia."
Please refer to Appendix A as enclosed for the details of the qualified opinion.
2. STEPS TAKEN OR PROPOSED TO BE TAKEN TO ADDRESS THE KEY AUDIT MATTERS RELATED TO THE QUALIFIED OPINION
The Group acknowledges the matters highlighted by the External Auditors and has undertaken, and will continue to undertake, measures to strengthen its internal controls, accounting processes and monitoring procedures. The Group is also enhancing its reconciliation procedures, supporting documentation and financial reporting processes, including periodic reviews of significant accounting estimates and judgements, with the objective of addressing the matters giving rise to the Qualified Opinion and improving the overall quality of its financial reporting.
3. MATERIAL UNCERTAINTY RELATED TO GOING CONCERN
The Auditors had provided the following opinion in the Auditors' Report:-
"We draw attention to Note 2(b) in the financial statements, which indicates that the Group incurred a net loss of RM7,617,791 during the financial period ended 28 February 2026 and, as of that date, the Group's current liabilities exceeded its current assets by RM2,082,979. As stated in Note 2(b), these events or conditions, along with other matters as set forth in Note 2(b), indicate that a material uncertainty exists that may cast significant doubt on the Group's ability to continue as a going concern. Our opinion is not modified in respect of this matter."
4. TIMELINE
Barring any unforeseen circumstances, the Group aims to resolve the matters giving rise to the Qualified Opinion within twelve (12) months from the date of this announcement.
This announcement is dated 30 June 2026.