INIX: why no audited accounts of its associate? (2)

Today the company issued its annual report.

The Chairman's statement is disappointing, only one page, widely spaced, hardly giving any useful information about the loss incurred and the plans going forward to improve its results. Surely an annual report should be more informative than that.

"Maintaining the profit trend"? The company just lost RM 5 Million and has accumulated losses of RM 20 Million! I surely hope, for the sake of the minority shareholders, that the trend will not be maintained.

I was interested in the associate company that didn't have audited accounts (page 64). No reason was given, instead a short, simplified balance sheet was given, but the profit & loss was rather comical:

If this same information was given to the auditors of INIX, then I understand why they qualified the accounts.

INIX: why no audited accounts of its associate?

INIX announced that its audited accounts are qualified, the reason given by the auditor:

I can come up with several scenario's why the audited financial stataments were not made available, each with its own degree of how serious the impact would be for INIX.

But why do we have to guess which scenario is the one, why does INIX not simply provide the proper reason for the above?

Surely minority investors deserve to know, this seems to me to be material information.