For the FY19 ended June, Capital World sank to a net loss of RM46.8 million ($15.3 million), reversing into the red from earnings of RM56.6 million a year ago.
SINGAPORE (Oct 14): Capital World, the property developer formerly known as Terratech Group, says it believes it is able to continue as a going concern, despite a disclaimer opinion by the company’s independent auditors Messrs Ernst & Young LLP in the group’s FY19 financial statements.
Going concern is an accounting term for a company that has the resources needed to remain in business for the foreseeable future.
