In
a nutshell, Cybertower Berhad is a trading company that involved in developing
and operating an Internet-based automatic vehicle locating system using
satellite and wireless telecommunication solutions. We can conclude that
Cybertower Berhad was listed in Practice Note 17 in 2013 because of its shareholders’
equity of the company less than 25% of the issued and paid-up share capital of
the company. In the same year, the Cybertower Berhad was also be listed in
Guidance Note 3 companies as it has been incurred losses for two years. In
addition, the external auditor of the company which is Siew Bong Yeong &
Associates reported the suspicion about the company as a going concern. Deep
investigation could not be done by the auditors as the computer servers were at
United States.

            As the performance of the Cybertower
Berhad has been evaluated by the calculation of profitability ratio, liquidity
ratio, efficiency ratio and debt to equity ratio. It has been proved that the
company’s performance before declared in Practice Note 17 and Guidance Note 3
is more efficient. After had been listed in PN17 and GN3, its performance had
been decline in the following year. Based on profitability ratio and liquidity
ratio, it shows the company performance is better in year 2012 compared to the
other years. Nevertheless, the efficiency ratio said year 2013 is better than
2012 and 2014. But debt to equity ratio shows the same result for all the 3
years as there is no long term debt in the company.

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            Hence, Cybertower Berhad need to
submit their proposal to the Approving Authority to restructure and revive the
company in order to maintain the listing status in Bursa Malaysia. Moreover,
there are some recommendations that may be can be done by the company in order
to sustain its business such as improve their current ratio because the higher
current ratio, the more capable the company is paying its obligations.

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