Our website is made possible by displaying non-intrusive online advertisements to our visitors.
Please consider supporting us by disabling or pausing your ad blocker.
The government of Malaysia, its Ministry of Finance Inc (MoF Inc), 1Malaysia Development Bhd (1MDB) and various subsidiaries have filed a US$5.64 billion suit against 44 partners of KPMG Malaysia during the time the firm was 1MDB’s auditors.
The lawsuit was filed on Tuesday (July 6).
The suit alleged breaches of contract and negligence in the audit and certification of 1MDB’s financial statements for financial year March 31, 2010 (FY10), FY11 and FY12.
KPMG was sacked as auditor after it refused to sign off the FY13 accounts.
So what can you see from the trend?
By the way, SD is an exceptional counter, it pulled down because of bad news. Would'nt you think that any sensitive news may influence the trend of this counter?