KUALA LUMPUR (March 6): Siew Boon Yeong & Associates (SBY) have resigned as auditors of Fintec Global Bhd, citing stretched resources and being unable to cope with the group’s stringent reporting timeline. 

In a stock exchange filing, Fintec said it had received a written notice from SBY today, on their resignation as auditors of the company.

“Pursuant to Section 281(2) of the Companies Act 2016, SBY’s term of office will end after 21 days from March 6, 2019,” it added. 

According to Fintec’s board, it is not aware of any other matters that need to be brought to the attention of the company's shareholders.

Shares of Fintec closed unchanged at five sen today, leaving the group with a market capitalisation of RM30.55 million.