YuuZoo riddled with contradictions
The company's response to questions raised about its business dealings contradicts its own statements and reports.
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ON July 6 and 7, YuuZoo Corporation issued three announcements responding to my two commentaries published in The Business Times on issues relating to its corporate governance, disclosure and accounting (YuuZoo Corporation: A Governance Nightmare on July 5 and YuuZoo: More Troubling Issues on July 6).
Its first announcement addressed my comments on the appointment and cessation of the company secretary, and the possible self-review threat and conflict of interest in having the company secretary and the compliance adviser from affiliated firms.
While I do not agree with YuuZoo's responses, my views on these issues have more to do with the spirit of the listing rules and best market practices, as opposed to mere compliance with the letter of the listing rules, which was the approach taken by YuuZoo.
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