Wednesday, 08 Jul 2020 01:13 PM MYTBursa Malaysia has suspended the public trading for low-cost carrier AirAsia Group Berhad. — Reuters pic
The auditor, Ernst & Young PLT , said in a statement yesterday that the group has a net loss of RM283 million for the financial year which ended on December 31, 2019, and its current liabilities exceeded its current assets by RM1.84 billion. E&Y said the combination of these circumstances is indicative of the existence of material uncertainties which may cast significant doubt on the group and the company's ability to continue as a going concern.
“The financial statements of the group and the company have been prepared on a going concern basis, the validity of which is dependent on successful recovery from the Covid-19 pandemic in conjunction with the actions undertaken by the government of the respective countries,” it said.
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