KUALA LUMPUR (April 22): Kamdar Group (M) Bhd said PKF Malaysia has resigned as its external auditor as the group intends to appoint another audit firm.

In a filing with the bourse, Kamdar said PKF Malaysia was reappointed as the group's auditor at Kamdar's annual general meeting (AGM) on Sept 29, 2020 to hold office until the conclusion of the next AGM of the company.

The group did not provide further elaboration on why it intends to replace its auditor.

“Kamdar is in the midst of identifying the new auditors pursuant to Section 271(2)(b) of the Companies Act 2016,” it said.

Meanwhile, the group said its board of directors is not aware of any other matters that need to be brought to the attention of the shareholders of Kamdar.

It said a further announcement on the appointment of the new auditor will be made by the group in due course once the appointment is finalised.

Last December, PKF had also resigned as the auditor for Fintec Global Bhd, citing “resources constraint”, amid a spate of auditor resignations during the same month.

These included the resignation of Jamal, Amin & Partners (JAP) as the external auditors of DGB Asia Bhd, SMTrack Bhd and Inix Technologies Bhd, as well as STYL Associates PLT’s resignation as the auditor of G Capital Bhd.

JAP had also resigned as the auditor of Trive Property Group Bhd in March, following the Audit Oversight Board’s sanction on the audit firm.

Kamdar's share price rose two sen or 6.9% to close at 31 sen, giving a market capitalisation of RM61.38 million.