KUALA LUMPUR (Sept 29): Grant Thornton Malaysia (GT) has resigned as the auditor for Lotus KFM Bhd as both parties are unable to reach a resolution on audit fees and disbursements.

In a bourse filing, the flour milling business provider said it has received a notice of writing from GT on Sept 29 on their resignation, effective from the date of the notice of resignation.

According to Lotus KFM, GT was re-appointed its auditors at its annual general meeting on March 17, and was supposed to hold office until the conclusion of the company's next AGM.

Lotus KFM shares finished half a sen or 1.79% lower at 27.5 sen on Friday, giving the company a market capitalisation of RM281 million.