(Bloomberg) -- Shares of Transmile Group Bhd., a
Malaysian air-cargo operator controlled by billionaire Robert
Kuok, tumbled to a three-year low after an audit found possible
sales overstatements that may force the company to report losses.
A special accounting audit at the air-transport operator
showed sales may have been inflated by 333 million ringgit ($98
million) in 2006, or 30 percent of total revenue, and by 197
million ringgit in 2005, equating to 36 percent of the year's
sales, Kuala Lumpur-based Transmile said in a statement May 30.
Read more at Bloomberg Emerging Markets News
Malaysian air-cargo operator controlled by billionaire Robert
Kuok, tumbled to a three-year low after an audit found possible
sales overstatements that may force the company to report losses.
A special accounting audit at the air-transport operator
showed sales may have been inflated by 333 million ringgit ($98
million) in 2006, or 30 percent of total revenue, and by 197
million ringgit in 2005, equating to 36 percent of the year's
sales, Kuala Lumpur-based Transmile said in a statement May 30.
Read more at Bloomberg Emerging Markets News
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