KUALA LUMPUR (Nov 1): Konsortium Transnasional Bhd said its auditors have tendered their resignation, as they have already served the group for five years. 

It said Messrs Jamal, Amin & Partners were complying with requirement under the Malaysian Institute of Accountant's by-laws which disallow any firm from auditing a public-listed company for more than five years. 

In a filing with Bursa Malaysia, Konsortium Transnasional said it will be appointing its new auditors soon, subject to the approval of its shareholders. 

The group is the largest operator of public bus transportation in Malaysia.

Konsortium Transnasional’s share price was unchanged at 8 sen today, with a market capitalisation of RM32.22 million.