Oceanus gets qualified opinion from auditor, adjusts FY15 financial statement

ABALONE producer Oceanus Group's independent auditor has issued a qualified opinion for the firm's financial year ended December 2015, the group said in a Singapore Exchange filing on Tuesday morning.

The auditor, Foo Kon Tan, said it was "not able to obtain sufficient appropriate audit evidence to provide a basis for an audit opinion", Oceanus said.

In a separate filing, the group added that after auditing its FY2015 financial statement, it has made changes resulting in a drop of 258 million yuan (S$52 million) in net assets as at end-December 2015 and a reduction of 39 million yuan to the group's loss for the financial year.