Auditor of Oceanus Group issues qualified opinion on its 2016 financial statement

AUDITORS of Oceanus Group have qualified their opinion on the 2016 full-year financial statement of the seafood supply chain manager, the company said Thursday.

Among other things, the auditor Foo Kon Tan said there was "material uncertainty" that may cast a significant doubt on the group's ability to continue as a going concern.

As at Dec 31, 2016, the group had net current liabilities of 600 million yuan (S$122 million), and incurred a post-tax loss of 62.2 million yuan.