BURSA Malaysia has publicly reprimanded Axis Corp Bhd and imposed a total fine of RM647,200 on its seven directors for the late submission of its financial accounts and a 525 per cent deviation between its audited profits and unaudited profits.
The company had reported an unaudited net profit of RM16.1 million for the financial year ended March 31 2008.
Later, it reported a net loss of RM68.4 million for the same period in its audited accounts.
The regulator said Axis has failed to take into account an understatement of costs of sales charged in relation to the company's contract manufacturers; and additional allowance for doubtful debts in respect of the amounts due from the contract manufacturers.
About Me
- Nuang
- Ibrahim bin Ramli@Nuang started his career with CIMB Wealth Advisors Berhad as Agency Manager in April, 2008.Previously he was an Internal Auditors and Accounts Executive with Perodua Sales Sdn Bhd since 17 August, 1994. His background:- 1.Certified of Achievement for Master Sales Leadership from Dr Lawrence Walter Ng of President of The Art Of Learning and International Of Learning Without Learning 2.Certified for eXtra Ordinary Performance of Lawrence Walter Award Certificate for One Million Ringgit Club 2007 3. Certified Life & General insurances 4. Conferred with Diploma in Business Studiess & Bachelor of Business Admin(Hons)Finance from UiTM, Terengganu Branch & Shah Alam respectively;
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