London Biscuits addresses issues

Market rumours: A worker manning a production line at London Biscuits’ factory in Ulu Tiram, Johor. There are market rumours that the company could be subject of some merger and acquisition activities or even being privatised by its owners.

LONDON Biscuits Bhd’s recent trigger of Practice Note 17 (PN17) does seem like a bad end to an already gloomy story that had been hovering over the confectionery manufacturer in recent times.

First, it was a qualified opinion issued by its external auditors in February this year.