KUALA LUMPUR (Dec 13): K-Star Sports Ltd said its substantial shareholder K-Star Sports International Ltd has nominated the appointment of a different external auditor than was originally put forward by it.

In a filing with Bursa Malaysia, the China-based sports shoe maker said it has received another notice of nomination from K-Star Sports International to appoint Foo Kon Tan LLP as external auditors of the company for the financial year ending Dec 31, 2017 (FY17), replacing Messrs Helmi Talib & Co who has retired, and to hold office until the conclusion of the next annual general meeting.

"In view of this, the earlier nomination of Messrs UHY Lee Seng Chan & Co is now regarded as irrelevant and will not be put forward for shareholders’ approval at an extraordinary general meeting (EGM) of the company to be convened," the filing added.

The proposed appointment of Foo Kon Tan LLP is still subject to approval of K-Star shareholders at the EGM.

"A circular containing the details and information of the proposed appointment of auditors, together with the notice of EGM, will be dispatched to the shareholders of the company in due course," K-Star said.

On Sept 20 this year, K-Star had received a notice of nomination from K-Star Sports to appoint Messrs UHY Lee Seng Chan & Co as auditors of the company for FY17.

K-Star shares closed up one sen or 15.38% at 7.5 sen today, with 1.26 million shares done, valuing the company at RM19.05 million.