227 FINANCIAL STATEMENTS Integrated Annual Report 2025 MANAGER’S REPORT OTHER STATUTORY INFORMATION (CONT’D) (b) At the date of this report, the Manager is not aware of any circumstances which would render: (i) it necessary to write off any bad debts or the amount of the provision for doubtful debts inadequate to any substantial extent; and (ii) the values attributed to the current assets in the financial statements of the Group and of the Fund misleading. (c) At the date of this report, the Manager is not aware of any circumstances which have arisen which would render adherence to the existing method of valuation of assets or liabilities of the Group and of the Fund misleading or inappropriate. (d) At the date of this report, the Manager is not aware of any circumstances not otherwise dealt with in this report or financial statements of the Group and of the Fund which would render any amount stated in the financial statements misleading. (e) As at the date of this report, there does not exist: (i) any charge on the assets of the Group and of the Fund which has arisen since the end of the financial year which secures the liabilities of any other person; and (ii) any contingent liability of the Group and of the Fund which has arisen since the end of the financial year. (f) In the opinion of the Manager: (i) no contingent or other liability has become enforceable or is likely to become enforceable within the period of twelve months after the end of the financial year which will or may affect the ability of the Group and of the Fund to meet their obligations when they fall due; and (ii) no item, transaction or event of a material and unusual nature has arisen in the interval between the end of the financial year and the date of this report which is likely to affect substantially the results of the operations of the Group and of the Fund for the financial year in which this report is made. (g) As of 31 December 2025, the current liabilities of the Group has exceeded the current assets by RM437,468,822. The net current liabilities position are mainly derived from borrowings of RM280,000,000 and RM359,994,050 which will be due in May 2026 and September 2026. The Manager believes that the Group will be able to meet its short‑term obligations as and when they fall due on the basis that the Group has initiated the process to extend the maturities of these borrowings and has identified several refinancing plans to be undertaken thereafter. As at the date of the financial statements, the Group has requested a one‑year extension for the borrowings and is assessing the available refinancing options offered by financial institutions. Taking into consideration the viability of these options and the progress made to date, the Manager is confident that the extension and subsequent refinancing can be completed as planned. Accordingly, the Manager is of the opinion that the going concern basis used in the preparation of the financial statements remains appropriate.
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