What do you think of this company financial performance?
Finally, the truth is revealed in its recently released result for the fourth quarter May 2013. It reported a huge loss of RM208 million. Effectively wiping out all the previous years profit. It has an accumulated loss of RM69 million. See the fourth quarter May 2013 announcement here.
What happened? Possible accounting fraud? The auditor is Ernst & Young (one of the big four audit firms).
This company, Malaysian AE Models Holdings Bhd, was classified as a PN17 company in June 2013. It has been suspended and may be delisted on 2 July 2014.
You can read more about this company in Corporate Governance in Malaysia blog.
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