KUALA LUMPUR: Trading in the securities of SAAG was halted from 9am to 10am on Tuesday, May 3 after it announced a variation of results between the audited and unaudited results for financial year ended Dec 31, 2010 over the weekend.
The company said there was a variance of more than 10% between the loss after tax and minority interest in the announced unaudited fourth quarter result made on Feb 28, 2011'' and the audited financial statement made on April 29 2011 for FY 2010.
'The audited net loss after tax and minority interest is RM35.703 million which is RM28.286 million higher than the unaudited net loss after tax and minority interest of RM9.417 million.
'The difference is substantially due to the following arising out of independent valuations dated March 31, 2011 commissioned by the company of some of its current and non current assets pursuant to which the company has incorporated in the financial statement of the company for FY 2010 for any deficit arising from such valuation of the assets,' it said.
The company said there was a variance of more than 10% between the loss after tax and minority interest in the announced unaudited fourth quarter result made on Feb 28, 2011'' and the audited financial statement made on April 29 2011 for FY 2010.
'The audited net loss after tax and minority interest is RM35.703 million which is RM28.286 million higher than the unaudited net loss after tax and minority interest of RM9.417 million.
'The difference is substantially due to the following arising out of independent valuations dated March 31, 2011 commissioned by the company of some of its current and non current assets pursuant to which the company has incorporated in the financial statement of the company for FY 2010 for any deficit arising from such valuation of the assets,' it said.
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