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Hyflux group takes legal action against former auditor KPMG over alleged contract breach

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Tay Peck Gek

Tay Peck Gek

Published Wed, Apr 27, 2022 · 08:28 PM
    • KPMG faces litigation by embattled Hyflux, which is under liquidation.
    • KPMG faces litigation by embattled Hyflux, which is under liquidation. Tay Peck Gek

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    HYFLUX and 35 companies in its group have lodged a lawsuit pre-emptively against their former independent auditor KPMG alleging breach of contract, and possibly pursuing claims that would include over S$400 million in dividends the company paid out between 2010 and 2018.

    The Singapore-listed company in compulsory liquidation has, together with its 35 local and foreign units including Tuaspring, filed a writ of summons against the professional services firm in Singapore's High Court on Mar 28, according to a cause book search by The Business Times (BT).

    KPMG was the statutory auditor for Hyflux and some of its subsidiaries in the group for several years.

    AuditorLawsuitsHyfluxKPMG

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