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KNM reports results deviation
by hlk Wed 01 May 2013, 07:56
PETALING JAYA: Process equipment maker KNM Group Bhd
has reported a deviation of more than 10% in its announced unaudited
accounts and audited net profit for the financial year ended Dec 31,
2012.
The unaudited net profit announced before was RM130.6mil vis-a-vis the audited figure of RM82.03mil.
The
company told Bursa Malaysia that this was due to the adjustments from
normal operations and the significant audit adjustments to its Brazilian
operations.
“The goodwill of RM29.557mil, which was attributed
to the skills and technical talent of the business acquired in 2008, has
been fully impaired during the year,” KNM said.
“The remaining
adjustments arising from KNM Brazil operations are due to impairment of
deferred tax assets and property, plant and equipment, and provision for
contingency cost,” it added.
has reported a deviation of more than 10% in its announced unaudited
accounts and audited net profit for the financial year ended Dec 31,
2012.
The unaudited net profit announced before was RM130.6mil vis-a-vis the audited figure of RM82.03mil.
The
company told Bursa Malaysia that this was due to the adjustments from
normal operations and the significant audit adjustments to its Brazilian
operations.
“The goodwill of RM29.557mil, which was attributed
to the skills and technical talent of the business acquired in 2008, has
been fully impaired during the year,” KNM said.
“The remaining
adjustments arising from KNM Brazil operations are due to impairment of
deferred tax assets and property, plant and equipment, and provision for
contingency cost,” it added.
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