Rapid Synergy manufactures precision tools and invests in property and shares, and was listed on the Malaysian Stock Exchange in 1997. Its auditors, KPMG, issued a qualified audit report in November 2023 in connection with rental income and property disposal gains. However, the shares rose another 10% in the two months after the publication. From January 2024, the share price rapidly fell, declining about 97% over the next 5 months. As evident from the audit report, the company had problematic accounting. However, it’s unclear what caused the share price collapse two months after the audit report was published.

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