Kedah Construction: KPMG Resignation after 10 years is in line with normal practice.
Kedah Construction $BDB (6173.MY)$ Clarification, the external auditor KPMG has served for 10 years, therefore, the resignation is in line with normal regulatory practices.
Kedah Construction today issued a statement that KPMG resigned after serving as the external auditor from 2014 to 2023 fiscal year for 10 years, which took effect on September 9 this year, in accordance with normal regulatory practices.
The board of directors emphasized that KPMG has not yet audited the financial reports for this year, so this transition will not affect the financial integrity of the Kedah Construction.
Currently, Kedah Construction has preliminarily selected BDO PLT as the new auditor, and will confirm its appointment after the formal documents are completed.
The board of directors expresses gratitude for KPMG's service and looks forward to maintaining a good cooperative relationship during this transition period.
The board of directors also emphasized that this transition will not affect the company's operation, and the group will continue to focus on its business and ensure compliance with all regulatory requirements.
The Board of Directors has confidence in changing external auditors, which will ensure the smooth continuity of the financial reporting process and benefit from the new perspectives brought by another audit firm.
Jitra Construction and the Board of Directors will continue to commit to compliance with the highest standards of corporate governance and follow the guidelines in the 2021 Malaysian Corporate Governance Code (MCCG 2021).
In a previous report, Jitra Construction announced on September 13th that it had received a letter from PwC on September 9th...

Malaysia adds another solar energy stock, SDCG surged 33% on its first day of listing.
(Kuala Lumpur, 19th) Solar District Cooling Group. $SDCG (0321.MY)$ It debuted on the stock exchange with the first fill price reported at 50 cents, a premium of 31.58% over the initial public offering (IPO) price of 38 cents.
This building energy efficiency and solar energy business was officially listed on Malaysia's gem this morning, with the first order trading volume recorded at 20.68 million1500 shares.
After listing, the stock briefly rose to 56 cents, but then pulled back slightly. As of 5 pm at the close of trading, the stock price closed at 50.5 cents.
After the bell ringing ceremony, Chairman and Managing Director Jiang Jin'an said in an online press conference, 'We appreciate the trust of investors. After the group is listed, we will invest the funds raised into technology innovation and development, so please continue to support us.'
In this first public offering, a total of 1.867 billion new shares were issued, raising a total of 45.09 million ringgit in funds. The main purpose is to purchase battery management systems, solar thermal systems, and materials needed for energy-saving business, with an estimated cost of 18.7 million ringgit.
Bidding for projects in various fields.
The funds raised for the listing activities also include funds for expanding the headquarters, which he sees as the first step in expanding the market; and some of the funds will be used as bidding or performance bonds for future projects.
Jiang Jin'an stated that the government has allocated a small amount in the budget for energy transformation in the past two years, coupled with the increasing use of green technology...

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