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Auditor flags lapses over Pacific Star's sale of 17 units at Puteri Cove Residences

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Ng Ren Jye

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

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Singapore

INTERNAL auditor RSM Risk Advisory has conducted an independent review of Pacific Star's internal controls after revenue for the sale of 17 property units was included in the second- and third-quarter financial statements despite risks of non-fulfilment by buyers.

The units are part of Puteri Cove Residences (PCR), a Malaysian property development by the company's wholly-owned indirect subsidiary, Pearl Discovery Development Sdn Bhd.

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