We refer to Bursa Malaysia Securities Berhad’s (“Bursa Securities”) query dated 3 March 2009 on SCAN Associates Berhad’s (“SCAN” or “Company”) announcement dated 27 February 2009, requesting for the following information for public release:
The delay in issuance of the Q4 Results is due to inter-alia the delay in the completion of the investigative audit (with reference to the announcement made on 22 January 2009) which is still in progress and currently in the process of being finalised. Upon completion of the investigative audit the Company shall be able to determine the impact on its financial statements.
In view of the above, the Company is currently working closely with the investigative auditors to finalise the outstanding Q4 Results and issue the Q4 Results to Bursa Securities and the relevant authorities as soon as possible.
The tentative timeline in respect of the steps taken or proposed to be taken to achieve the issuance of the outstanding Q4 Results is as follows:-
No. | Steps taken or proposed to be taken | Timeline | Status |
1. | Discussion with the investigative auditors on the outstanding issues.
| Beginning of March | On going |
2. | Finalisation of investigative audit report.
| Mid- March 2009 | To be achieved |
3. | Finalisation of the Q4 Results.
| Mid- March 2009 | To be achieved |
4. | Audit Committee Meeting · To review the Q4 Results of the Company. Board of Directors' Meeting · To approve the Q4 Results of the Company. · To table the Research Report. | Mid- March 2009 | To be achieved |
5. | Submission of the Q4 Results and Research Report for public release.
| End- March 2009 | To be achieved |
This announcement is dated 4 March 2009.