LTAT didn’t report RM90 million impairment in FY17 statement, auditors find
THE National Audit Department has found that the Armed Forces Fund Board failed to report impairment for two “available-for-sale securities” amounting to RM88.9 million in its financial statements ending December 31, 2017 .
In a statement today, LTAT chief executive Nik Amlizan Mohamed said the fair value of the two shares as of FY17 amounted to RM18.46 million, compared with the purchase cost of RM107.36 million. Effective July 2018, access to full reports will only be available with a subscription. Sign-up now and enjoy one week free access!
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