TIENWAH

0.860

(%)

OTHERS TIEN WAH PRESS HOLDINGS BERHAD ("TWPH" OR THE "COMPANY") - DEVIATION OF 10% OR MORE BETWEEN THE ANNOUNCED UNAUDITED FINANCIAL STATEMENTS AND THE AUDITED FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2019

TIEN WAH PRESS HOLDINGS BERHAD

Type Announcement
Subject OTHERS
Description
TIEN WAH PRESS HOLDINGS BERHAD ("TWPH" OR THE "COMPANY") 
- DEVIATION OF 10% OR MORE BETWEEN THE ANNOUNCED UNAUDITED FINANCIAL STATEMENTS AND THE AUDITED FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2019

1. INTRODUCTION

 

The Board of Directors of TWPH wishes to announce that the Company had on 28 February 2020 submitted its unaudited results for the fourth quarter ended 31 December 2019 (“Q4 2019 Results”) to Bursa Malaysia Securities Berhad (“Bursa Securities”).

 

2. DEVIATION BETWEEN UNAUDITED RESULTS AND THE AUDITED RESULTS

                             

In compliance with Paragraph 9.19(35) of the Main Market Listing Requirements of Bursa Securities, the Company wishes to announce that there is a deviation of more than 10% between the Q4 2019 Results and the Audited Financial Statements for the financial year ended 31 December 2019 of the Company, in respect of the Company and its subsidiaries' net loss after tax attributable to equity holders. The deviation has been reconciled and explained as below:

 

 Description

RM’000

Loss attributable to owners of the Company as stated in the unaudited fourth quarter results ended 31 December 2019

 

(10,872)

Adjustments arising from:

 

(a)  Additional impairment of on the building, property, plant and equipment of Alliance Print Technologies FZE, the manufacturing facility in Dubai, based on valuation reports dated 1 March 2020 and 9 March 2020 which were delayed due to restrictions arising from the Covid-19 pandemic outbreak.

 

(9,161)

(b)  Minor adjustments in joint venture after finalisation of audit

 

(12)

Loss attributable to owners of the Company as stated in the audited financial statements

(20,045)

 

This announcement is dated 11 June 2020. 






Announcement Info

Company Name TIEN WAH PRESS HOLDINGS BERHAD
Stock Name TIENWAH
Date Announced 11 Jun 2020
Category General Announcement for PLC
Reference Number GA1-04062020-00077