Core Viewpoint - Highway Holdings Limited has appointed Marcum Asia CPAs LLP as its new independent auditor, replacing ARK Pro CPA & Co, to enhance its financial reporting standards and support future growth [1][4][5]. Group 1: Appointment Details - The appointment of Marcum Asia is effective immediately and follows a thorough selection process where several leading audit firms were evaluated [2][4]. - Highway Holdings had no disagreements with ARK regarding accounting principles, financial statement disclosures, or auditing procedures during their tenure [2][3]. Group 2: Company Strategy and Leadership - The decision to appoint a new auditor was ratified by the audit committee and the board of directors, indicating a structured approach to governance [3]. - The appointment aligns with a broader restructuring of Highway Holdings' Board of Directors, which now includes four new directors with extensive experience in multinational business environments [5]. Group 3: Future Outlook - The CEO of Highway Holdings expressed optimism about the partnership with Marcum Asia, highlighting its potential to enhance corporate standards and shareholder value in preparation for future growth [5]. - Marcum Asia is expected to strengthen Highway Holdings' financial reporting processes, contributing to the company's long-term success [5][6].
HIGHWAY HOLDINGS APPOINTS MARCUM ASIA AS NEW AUDITOR