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China Taisan Technology
INDEPENDENT auditors of China Taisan Technology from RT LLP have warned of significant doubts over the firm's ability to continue as a going concern.
They noted that the group posted a net loss of over 128.7 million yuan (S$26 million) and net operating cash outflows in excess of 13.6 million yuan. It had just over two million yuan of cash and cash equivalents compared to over 76.2 million yuan of current liabilities on hand. "These conditions indicated the existence of a material uncertainty which may cast a significant doubt over the group's ability to continue as a going concern," the auditors said.
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