Preparation of announcements – content of press or public announcement
9.09
Pursuant to Bursa Securities' query on 25 August 2009 in respect of the unusual market activity in X Bhd's securities, X Bhd has in its clarifying announcement on the same day, confirmed that it had entered into a material acquisition and provided the profit estimate together with the accounting bases, calculations and assumptions thereof. Is X Bhd required to ensure that the accounting bases, calculations and assumptions of the profit estimate disclosed in the clarifying announcement are reviewed by the external auditors?
As the clarifying announcement is made on an immediate basis, X Bhd would not be required to ensure that the accounting bases, calculations and assumptions of the profit estimate disclosed is reviewed by the external auditors pursuant to paragraph 9.16(1)(c)(v) of the Main LR. However, X Bhd must still ensure that the clarifying announcement and the disclosure of its revenue or profit estimate, forecast or projection complies with the standards of disclosure prescribed in paragraph 9.16 of the Main LR.