DANAVEST

KUALA LUMPUR: Oilcorp Bhd’s dispute with its former external auditor Baker Tilly Monteiro Heng (BTMH) took on more twists yesterday after the Securities Commission (SC) stepped in and directed BTMH to undertake a forensic audit on the contract value of a biofuel project.

However, according to sources, when BTMH staff showed up at Oilcorp’s office yesterday to start work on the forensic audit, they were refused permission to do so as Oilcorp was challenging the SC’s authority in giving the directive.

A source told The Edge Financial Daily that the audit team went to Oilcorp’s office at about 2.30pm and asked for more information to enable them to conduct the audit. The source said the auditors were made to wait in a meeting room and were told to leave the premises two hours later on grounds they were “trespassing”.

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