Discrepancies found in Trek 2000 unit's sale transaction documents

Singapore

DOCUMENTATION deficiencies have been found in relation to certain sale transactions between one of Trek 2000 International's subsidiaries and a customer, said Trek 2000 on Monday, in an update to a statement issued in the early hours of March 1, in which the company had stated that it is seeking an application for a time extension to announce its financial results for the year ended Dec 31, 2015.

Specifically, external auditors have observed and highlighted that there are discrepancies in the identity of the customer in the transaction between the company's sales system and books; delivery orders acknowledged by the customer and the airway bill relating to the shipment of the goods; and identity of the payer as stated on certain bank transfer notices showing payments of about US$2.65 million made by the customer to the group. While the US$2.65 million has been received by the group, the external auditor raised concerns as to the source and origin of the bank transfer notices.