{
  "id": 3734960,
  "title": "LYC Healthcare external auditor flags going-concern doubts, issues disclaimer",
  "url": "https://urgent.news/2026/08/27/lyc-healthcare-external-auditor-flags-going-concern-doubts-issues",
  "topic": "world",
  "section": "World",
  "published": "2026-08-27T12:32:56.000Z",
  "source": {
    "name": "New Straits Times",
    "slug": "new-straits-times",
    "url": "https://www.nst.com.my/business/corporate/2026/08/1520146/lyc-healthcare-external-auditor-flags-going-concern-doubts"
  },
  "original_language": "en",
  "account": "External auditors for LYC Healthcare have raised concerns about the group's ability to remain a going concern, issuing a disclaimer of opinion on the company's financial results for the year ending March 31, 2026. The auditors, SBY Partners PLT, highlighted several issues, including a significant net loss of RM12.69 million and RM52.49 million, as well as the group and company's current liabilities exceeding current assets by RM72.15 million and RM6.23 million respectively. The auditors were unable to obtain sufficient evidence to verify the extension of redeemable preference shares that expired in September and October 2025. Additionally, LYC Healthcare's status as an affected listed issuer under Bursa Malaysia's ACE Market listing requirements was noted, requiring the company to formulate a plan to regularize its financial condition and submit it for approval by November 30, 2026. The auditors also questioned the assumptions used in managing the company's cash flow forecasts for the next 12 months. The auditor raised concerns regarding the disposal of Elite Dental Group, where a RM1.81 million gain and RM5.30 million in net cash inflow were not sufficiently audited. Furthermore, the auditors could not verify the financial results and investment carrying amounts for an associate company. These issues arose after LYC delayed the release of its FY26 annual report, initially due on July 31, which was subsequently suspended from trading since August 10.",
  "summary": "KUALA LUMPUR: LYC Healthcare Bhd's external auditor has flagged the existence of material uncertainties in the group's accounts for the financial year ended March 31, 2026 (FY26) that may cast significant doubt on its ability to continue as a going concern.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}