LINEAR - Linear Corporation Berhad ("Linear" or "the Company") - Appointment of Special Auditor
Company Name: LINEAR CORPORATION BERHAD
Stock Name: LINEAR
Date Announced: 25/06/2010
Subject: Linear Corporation Berhad ("Linear" or "the Company")
- Appointment of Special Auditor
Contents: The Directors of Linear has at 7.58 p.m. today received a Directive from Bursa Securities to immediately appoint a Special Auditor ("SA") to undertake an investigation into the affairs of the Company and in particular its financials and to indentify any potential irregularities, including but not limited to the operations and maintenance of the Prime Savings & Trust accounts in Sweden where the RM36 million was purportedly paid out. The Company is required to revert to Bursa Securities within 2 market days on the proposed scope of work and candidates of the SA for their concurrence. The Company is also required to update Bursa Securities on any development with regard to the special audit including the findings and course of action to be taken following the results/findings of the special audit.
The Directors will revert to Bursa Securities in due course.
This announcement is dated 25 June 2010.