Reneuco Bhd's external auditors have expressed a disclaimer of opinion in the independent auditors' report of the sustainable energy and utilities activities company.

In an exchange filing today, Reneuco said in reference to the disclaimer of opinion by Messrs Al Jafree Salihin Kuzaimi PLT, Reneuco had appointed a special independent review consultant and independent technical review consultant.

On Feb 8, the company announced that it was now an affected listed issuer as prescribed under PN17 and that the company was in the midst of formulating a plan to regularise its financial condition.

In the report, Al Jafree Salihin Kuzaimi said it was engaged to audit the financial statements of Reneuco comprising the statements of financial position as at Sept 30, 2023 and the statements of comprehensive income, statements of changes in equity and statements of cash flows of the group and of the company for the financial period from July 1, 2022 to Sept 30, 2023, and notes to the financial statements, including a summary of significant accounting policies, as set out in the accompanying pages.

It said it did not express an opinion on the accompanying financial statements.

"Because of the significance of the matters described in the Basis for Disclaimer Opinion section of our report, we have not been able to obtain sufficient appropriate audit evidence to provide a basis for an audit opinion on these financial statements," it said.

In accordance with the requirements of the Companies Act 2016 in Malaysia, the external auditor said in its report that in its opinion, the accounting and other records under review have not been properly kept in accordance with the provision of the Act and that it had not obtained all the information and explanations it required.