YNH appoints Morison LC Malaysia as its new external auditors

THE board of YNH Property Bhd has approved the recommendation made by its audit committee to appoint Morison LC Malaysia as its new external auditor to replace Baker Tilly Monteiro Heng PLT who did not seek re-appointment at the property developer’s annual general meeting (AGM) on Dec 8 last year.

Morison LC Malaysia has been appointed for the financial period ending June 30, 2024, according to YNH in a Bursa Malaysia filing. The external auditor will hold office until the conclusion of YNH’s next annual general meeting, it added.

Morison LC Malaysia stands among the foremost accounting and business advisory firms in the country. Its team comprises seven partners and directors while its presence extends across three offices throughout Malaysia, supported by a workforce of over 100 dedicated professionals.

Morison LC Malaysia is part of a larger Morison Global family which is the among the largest accounting network on a global scale. Internationally, Morison Global is represented by 137 member firms spanning 74 countries and boasting a collective workforce of more than 11,700 highly skilled professionals.

“The board of directors have invited and received numerous offers from accounting firms for the external auditor role,” YNH pointed out in a media statement following the appointment of its new external auditor.

“Over the past few months, our board has been carefully evaluating several candidates for this role in order to be recommended to the independent non-executive directors (INED) that make up the audit committee.”

Added YNH: “The appointment of Morison LC Malaysia is in line with our board’s commitment towards embracing high levels of corporate government within the organisation. The board and the management team of YNH aim to provide full cooperation and support to our new external auditor to safeguard the interest of our shareholders and stakeholders.”

At 3.43pm, YNH was down 0.5 sen or 1.05% to 47 sen with 6.65 million shares traded, thus valuing the company at RM249 mil. – March 19, 2024

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