KUALA LUMPUR (Aug 9): Messrs Mazars PLT has been appointed as the new external auditor of Gabungan AQRS Bhd with effect from Aug 11.
Gabungan AQRS said in a bourse filing on Tuesday (Aug 9) that it is of the view that a change in auditor who has served the company for almost 12 years is necessary to heighten corporate governance.
Last month, Gabungan AQRS Bhd announced that it has received a notice in writing from its former auditor Messrs BDO PLT on its resignation as auditor of the construction firm and that BDO's term of office would end after 21 days from July 21.
Gabungan AQRS said it has selected Mazars as the new external auditor based on its experience, capability and resources.
The selection criteria include the experience of the firm in auditing construction and property development companies, the support services that can be offered by the firm in particular, in taxation and the availability of the firm's resources.
"Gabungan AQRS believes, given the future expansion of the property development business that the group will embark on, [that] Mazars is preferred because of its vast experience in auditing both construction and property development companies," it added.
Gabungan AQRS' shares finished 6.25% or two sen higher at 34 sen on Tuesday, for a market capitalisation of RM184.9 million.
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