Cacola says it disagrees with SGX's assessment of its cash flow position

Singapore

MAINBOARD-listed Cacola Furniture International said that it disagrees with the Singapore Exchange's assessment that its operation is not in a healthy cash flow position, and continues to engage the regulator to seek the best options for shareholders.

The sofa maker, whose appeal for extra time to exit the watch-list has been rejected, said that it has an actual positive operating cash flow of about 1.4 million yuan (S$286,486) for the fiscal year ended Dec 31, 2016. This is after excluding the major non-cash transaction comprising debt settlement of 19.7 million yuan involving the issue of new shares to certain creditors in October 2016.