ABOUT THE COMPANY
Kenmark Industrial Co. (M) Berhad lost some RM140 million in stock market value in a matter of days while more than 400 of its workers went out of jobs. The independent directors were told by former executives that all of its operations have stopped while two banks also demanded some RM73 million in loan repayments. To make matters worse, it immediately became a PN17 company, a label of financially troubled firms on Bursa Malaysia. The Malaysia based company was engaged in the manufacturing of computer workstations, cabinets, furniture, printing of packaging materials, the distribution of
Kenmark Industrial Co. (M) Berhad lost some RM140 million in stock market value in a matter of days while more than 400 of its workers went out of jobs. The independent directors were told by former executives that all of its operations have stopped while two banks also demanded some RM73 million in loan repayments. To make matters worse, it immediately became a PN17 company, a label of financially troubled firms on Bursa Malaysia. The Malaysia based company was engaged in the manufacturing of computer workstations, cabinets, furniture, printing of packaging materials, the distribution of
consumer products, and investment holding. The Company was also engaged in diverse businesses, from trading of LCD displays, plastic parts, to electronic devices.
UHY Services
The forensic accounting service of UHY was engaged to perform an investigative audit under the directive of Bursa Malaysia to identify potential financial irregularities.
Why UHY
It is noteworthy that UHY's FLVS (Forensic, Litigation & Valuation Services) division integrates the synergistic services of forensic, litigation support and valuation work, it is the first division of its kind in Malaysia
UHY receives support from UHY Advisors FLVS (USA), a specialist division of our US office that handles major corporate debacles and has significant experience in the field working on cases such as Enron, Tyco and Dynergy, thus conducting extremely sophisticated forensic, legal and valuation work at a global level.
It is noteworthy that UHY's FLVS (Forensic, Litigation & Valuation Services) division integrates the synergistic services of forensic, litigation support and valuation work, it is the first division of its kind in Malaysia
UHY receives support from UHY Advisors FLVS (USA), a specialist division of our US office that handles major corporate debacles and has significant experience in the field working on cases such as Enron, Tyco and Dynergy, thus conducting extremely sophisticated forensic, legal and valuation work at a global level.
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