KUALA LUMPUR (Oct 12): MNC Wireless Bhd’s external auditor, Siew Boon Yeong & Associates, has resigned from its position effective Nov 1.

"The resignation is on a voluntary basis as the company could not reach a consensus on the proposed audit fees for the financial year ending Dec 31, 2018," MNC said in a filing today.

Siew Boon Yeong was re-appointed as the group’s external auditor at the last annual general meeting on June 22 and was supposed to hold on to the position until the conclusion of the next AGM.

MNC said it will appoint a reputable firm as the new auditor in due course.

Shares of MNC closed unchanged at five sen today, for a market capitalisation of RM38.09 million.