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Notable Trade Wei buys more redtone shares even as auditors qualified accounts

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Notable Trade Wei buys more redtone shares even as auditors qualified accounts Empty Notable Trade Wei buys more redtone shares even as auditors qualified accounts

Post by Cals Fri 03 Oct 2014, 02:16

Notable Trade Wei buys more redtone shares even as auditors qualified accounts
Business & Markets 2014
Written by Charlotte Chong of theedgemalaysia.com   
Thursday, 02 October 2014 19:24

KUALA LUMPUR (Oct 2): Datuk Wei Chuan Beng, managing director of ACE Market-listed Redtone International Bhd, has acquired 1.16 million shares in the broadband player from the open market today.
The purchases raised Wei’s holdings in Redtone to a direct interest of 25.34 million shares or a 4.93% stake, and indirect interest of 4 million shares or 0.77%.

Wei's purchases came after a recent Redtone announcement that its external auditors, Messrs Crow Horwath, had expressed a qualified opinion on the company's audited financial statement for the financial year ended May 2014, in respect of a debt owing by a third party.

Redtone dropped 0.5 sen to close at 78 sen today, giving it a market capitalisation of RM400.52 million.
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