Kenanga Research downgrades CBIP to ‘market perform’
“However, we wish to clarify that for CBIP itself, there has been no issue with its own set of financial statements, and the delay in the completion of the associates and JV’s management accounts should pose minimal impact to FY18 numbers,” said Kenanga in its report.
PETALING JAYA: Kenanga Research is mildly negative on the news that CB Industrial Product Holding 
Bhd (CBIP) has received a qualified audit opinion from its external auditors.
The research house said in a note that the news might create short-term misperception towards the stock, but believed there would be minimal impact on the financial year 2018 (FY18) numbers.
To recap, CBIP announced that it had received a qualified audit opinion from its external auditors, Messrs Crowe Malaysia PLT, due to the unavailability of audited financial statements and auditors’ report for its associates and a joint venture (JV).
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