YuuZoo to appoint third party to investigate claims

YUUZOO Corporation on Monday announced that it is responding to six articles published in The Business Times between May 4 and July 11.

In a Singapore Exchange filing on Monday, the company said that many issues raised in the articles were already reviewed by YuuZoo's auditors, who gave the company a clean audit.

The company will appoint an independent third party to investigate the claims and statements, and report the findings and recommendations to Anthony Williams, the company's lead independent director and a law firm partner, for follow-up action.

YuuZoo's executive chairman has informed the board that he will step down from his executive position for the duration of the independent review to ensure that there can be no claims of executive interference in the process.