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ASL Marine's independent auditor flags 'going concern' doubts

The group incurred a net loss of about S$145.9m, with current liabilities exceeding current assets by S$20.8m for the year ended June 30

Published Fri, Oct 11, 2019 · 09:50 PM

asl marine

Singapore

ASL Marine Holdings' independent auditor has raised a "material uncertainty" about the group's ability to continue as a going concern, the marine and investment holding company announced on Friday.

Auditor Ernst & Young (EY) highlighted that for the year ended June 30, 2019, the group incurred a net loss of S$145.9 million, with its current liabilities exceeding current assets by S$20.8 million.

As at end June, the group's total borrowings, which included those of its subsidiaries…