Prestariang drops 6.2% as auditor highlights material uncertainty

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KUALA LUMPUR (Nov 13): Shares in Prestariang Bhd dropped 6.2% this morning as its independent auditor Crowe Malaysia PLT highlighted a material uncertainty on the IT software distributor's ability to continue as a going concern.

At 10:00am, shares of the IT software distributor fell 3 sen to 45.5 sen, for a market capitalisation of RM233.92 million.

Crowe Malaysia highlighted the material uncertainty after taking into account Prestariang's negative operating cash flow and loss after taxation for the financial period ended June 30, 2019.