Corporate digest

YuuZoo Corp

YUUZOO Corp's first-quarter net profit fell 13 per cent to S$11.2 million, or 1.45 Singapore cents per share, as the company lost a major client and adopted a more conservative accounting policy. Revenue fell 58 per cent to S$18.9 million for the three months ended March 31, the social commerce company said. The cash flow statement shows a non-cash revenue generated of S$14.4 million.

YuuZoo's numbers from 2016 are still in the process of being audited by RT. The delay in the completion of the audit, which YuuZoo said was a result of changing its accounting policy, has led YuuZoo to seek an extension of time to conduct its annual shareholders' meeting.