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| Fotronics external auditors unable to ascertain recoverability of RM12.7m |
| Written by Joseph Chin | |||
| Thursday, 29 July 2010 22:50 | |||
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KUALA LUMPUR: Fotronics Corp Bhd’s external auditors Messrs. CroweHorwath have expressed concern over the recoverability of trade receivables totaling RM12.7 million due to the company. It said on Thursday, July 29 Messrs. CroweHorwath had expressed a qualified opinion in their auditors' report for the audited financial statements for the financial year March 31, 2010. “The auditors have been unable to ascertain the recoverability of the carrying amount due from a trade receivable of the group, namely Futek Incorporated (Japan), amounting to RM12.67 million as March 31, 2010 as disclosed in Note 12 to the financial statements,” it said. Fotronics said this amount has been long overdue since the financial year ended March 31, 2008.
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