KUALA LUMPUR: Comintel Corp Bhd’s (Comintel) external auditor Messrs RSM Malaysia has expressed a qualified opinion on the group’s financial statement for the year ended Jan 31, 2019 (FY19).

In a filing with Bursa Malaysia yesterday, an extract from the auditor’s report revealed that the Practice Note 17 information technology and telecommunication services provider has multiple uncertainties that may cast significant doubt on the group’s ability to continue as a going concern.

For one, its wholly-owned subsidiary Comintel Sdn Bhd is unable to pay RM20.83 million with interest at 8% per year to Ansat Broadcast Sdn Bhd (UTV) as ordered by the Federal Court on Aug 18, 2017. This resulted in the Shah Alam High Court granting a winding-up petition by UTV against Comintel Sdn Bhd on April 17, which led to a liquidator being appointed.

Comintel is expected to submit its regularisation plan to Bursa Securities on July 10.