Singapore eDevelopment auditor flags group's going concern risk

Singapore

AN AUDIT report on Singapore eDevelopment Limited's financial statements for the year ended Dec 31, 2016 by independent auditor Ernst & Young LLP, drew attention to a note which stated a material uncertainty exists that may cast significant doubt on the group's ability to continue as a going concern.

The ability of the group to continue as a going concern is dependent on the continued financial support from Hengfai Business Development (HBD), a substantial shareholder of the company.