Quick take: Avillion falls 9% after auditor casts going concern doubts

KUALA LUMPUR: Shares in Avillion Bhd fell over 9% in early trade Thursday after its external highlighted potential going concern issues.

The hotel-and-travel company fell 9.09%, or 0.5 sen to five sen with one million shares traded. Year-to-date, the counter has fallen almost 17%

Its auditor, Messrs Baker Tilly Monteiro Heng PLTdrew attention to a net loss of RM5.55mil at the group level, and RM6.81mil at the company level for the financial year ended March 31, 2024 (FY2024).

It noted that this indicates the existence of material uncertainty, which may cast significant doubt on the group’s and the company’s ability to continue as a going concern.

“Our opinion is not modified in respect of this matter.”