KUALA LUMPUR: Multi-Usage Holdings Bhd’s (MUH) external auditor UHY has deemed the company’s financial statements as at June 30, 2019 to be a true and fair account except for the effects of the matter described in the basis for qualified opinion section of its report.

“We are unable to obtain sufficient appropriate audit evidence to determine the nature and extent of relationships that may exist between the company and its relevant subsidiary companies and the special-purpose vehicle (SPV) by virtue of the said transactions and the debt restructuring exercises. Consequently, we were unable to determine whether the company had control over the SPV — and the completeness of the comparative disclosures relating to the related party transactions between the group and the SPV,” UHY had expressed, MUH said in a bourse filing yesterday.