Scan Associates’ auditors resign

PETALING JAYA: Scan Associates Bhd’s auditors Baker Tilly Monteiro Heng have tendered their resignation as auditors of the company and its subsidiaries.
Scan Associates said the auditors cited outstanding amount of professional fees to the company and its subsidiaries, as well as receiving the writ and statement of claim by Scan director and shareholder Yeoh Eng Kong on May 16, 2016, as reasons for resigning.
“In lieu of the matter, the company will hold a special board meeting early next week to deliberate the issue,” Scan Associates said in a filing with the stock exchange.
Last week, Scan Associates’ attempt to preserve its listing status proved futile, after the Court of Appeal dismissed the motion for lack of merit, with costs of RM15,000.
Yeoh had filed an appeal against the High Court’s decision, which was purportedly made on May 18, 2016.
He also filed a motion to appoint ad interim receiver and manager over the company and to seek any extension of time from Bursa Malaysia Securities Bhd or to exercise any such necessary steps to preserve the listing status of the company and to avoid and/or prevent the company’s shares from being delisted.
Yeoh’s earlier application for an interim injunction to compel the company to hold an EGM for the shareholders to discuss the regularisation plan and to seek an extension of time from Bursa Securities to submit the regularisation plan was also dismissed.
The company had failed to submit a regularisation plan to Bursa Securities for approval within the time frame stipulated.