Dyna-Mac says S$1m misappropriated at its unit, files police report
Singapore
MAINBOARD-LISTED Dyna-Mac Holdings Ltd has lodged a police report in relation to suspected criminal conduct involving misappropriation of funds amounting to about S$1 million by a former employee of a subsidiary.
"Upon the discovery of the misappropriation, the board, together with the audit committee, had taken immediate steps to (i) review the internal controls of the affected department of the subsidiary; and (ii) investigate any further incident of misappropriation," the group said in a filing with the Singapore Exchange on Sunday.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
S&P slashes Boeing credit outlook as rating hovers above junk status
Honda to spend US$11 billion on EV strategy in Canada
GlaxoSmithKline sues Pfizer and BioNTech over Covid-19 vaccine technology
Mapletree Industrial Trust Q4 DPU rises 0.9% to S$0.0336
Nasdaq’s profit falls as shaky economy keeps IPO revival elusive
iFast Q1 net profit surges on ePension unit performance