MAA Group Faces Going Concern Uncertainty Amid RM106.9 Mln Loss

KUALA LUMPUR, Oct 30 (Bernama) -- MAA Group Bhd’s external auditors, KPMG PLT, have issued an unqualified audit opinion on its financial statements for the financial year ended June 30, 2026 (FY2026), while highlighting a material uncertainty related to the group’s ability to continue as a going concern.

In a Bursa Malaysia filing, it said the company reported losses of RM106.9 million for FY2026.

“The group’s current liabilities of RM102.5 million exceeded its current assets of RM99.4 million by RM3.1 million.

“These conditions indicate that material uncertainties exist that may cast significant doubt on the ability of the group to continue as a going concern and to meet its financial obligations over the next 12 months from the date of the authorisation of these financial statements,” said the group.

MAA said the group's financial conditions are temporary and that it can meet its financial obligations through several mitigation measures.

These include the proposed disposal of equity interests in certain non-consolidated entities, identified properties and a hotel operation, which are expected to generate proceeds of RM139.1 million.

Additionally, this involves ongoing efforts to recover credit-impaired loans from its financial services operation, with an expected gross settlement of RM38 million.

MAA said it has also secured funding through the issuance of investment notes by a subsidiary and is pursuing further issuances to raise additional funds. In addition, it has obtained continued financial support from a substantial shareholder.

“Accordingly, the directors consider it appropriate to prepare the group's and the company's financial statements for FY2026 on a going concern basis,” said MAA.

-- BERNAMA