KUALA LUMPUR (Sept 25): Ernst and Young PLT (EY) has resigned as auditors for MPHB Capital Bhd and its subsidiaries after being appointed as the group’s auditor since its incorporation in 2012. 

In a Bursa Malaysia filing on Monday, the group said the resignation of EY is based on mutual consent of both parties as the group wishes to appoint another audit firm as its auditors. 

“The board is of the view that the group would benefit from the fresh perspectives and views of another auditor since EY had been the auditors of most of the company’s subsidiaries for more than 35 years and the company since the date of its incorporation in 2012.

“The board is in the process of identifying and finalising the appointment of a new auditor,” it said. 

MPHB added, EY was re-appointed as the auditor of the company at the annual general meeting (AGM) of the company held on May 19, 2023 and was to hold office until the conclusion of the next AGM of the company.   

Shares in MPHB Capital closed one sen or 0.93% lower to RM1.07, giving it a market capitalisation of RM765.05 million.