Asia Cassava Seeks to Replace Ernst & Young to Rein in Audit Costs

Asia Cassava Resources Holdings Limited ( (HK:0841) ) has issued an update.

Asia Cassava Resources Holdings Limited plans to remove Ernst & Young as its auditor and appoint CCTH CPA Limited, citing a lack of consensus on audit fees that the audit committee deemed disproportionate to the Group’s current scale of operations. The board says the switch is intended to improve cost control and reduce operating expenses to support the Group’s future business development, and expects no significant impact on the timing or conduct of the annual audit for the year ended 31 March 2026.

The proposed change of auditor is subject to shareholder approval at an extraordinary general meeting, in line with the company’s articles of association and Hong Kong Listing Rules, including requirements on notice, circulation of a circular, and the outgoing auditor’s right to make representations. Ernst & Young has confirmed there are no circumstances regarding its removal that need to be brought to shareholders’ or creditors’ attention, while the audit committee has assessed CCTH’s experience, independence, and resources and considers it suitable to assume the role until the next annual general meeting.

More about Asia Cassava Resources Holdings Limited

Asia Cassava Resources Holdings Limited is a Cayman Islands-incorporated company listed in Hong Kong, operating as a group focused on cassava-related resources and trading activities in Asia. The Group’s operations and cost structure are subject to compliance with Hong Kong listing regulations and oversight by its board and audit committee, reflecting the governance framework typical for mid-cap resource and trading companies on the Stock Exchange of Hong Kong.

Average Trading Volume: 240,000

Technical Sentiment Signal: Buy

Current Market Cap: HK$116.9M

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