KUALA LUMPUR: Bina Darulaman Bhd (BDB) today said the resignation of its external auditor, KPMG, is part of a routine governance practice following the extension of their tenure, which spanned 10 years.
KPMG was Bina Darulaman's auditor from financial year 2014 to 2023.
"The board of directors of BDB, appreciate the services of KPMG and look forward to continuing a positive relationship during this transition," it said in its statement today.
It emphasised that KPMG has not audited this year's financial reports yet, therefore the transition will not affect BDB's financial integrity.
BDB has shortlisted BDO PLT as the new auditor, pending the completion of the official documentation to finalise the appointment and align with strategic objectives.
The board of directors of BDB also said that this transition will not impact BDB's operations.
"The group is dedicated to its business activities and will continue to meet all regulatory requirements."
"The board is confident that the change in external auditors will ensure a smooth continuation of the financial reporting process and to enable the Company to benefit from fresh perspectives and views of another audit firm," it said.
BDB said it is fully committed to upholding the highest standards of corporate governance, following the guidelines set out in the Malaysian Code of Corporate Governance 2021.
BDB's share price was up 1.69 per cent to 30 sen earlier, giving it a market capitalisation of RM88 million.