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Jason's internal audit uncovers potential S$2m error

Commissioning of internal audit follows feedback from employee on operations of subsidiaries

Angela Tan
Published Thu, Jan 14, 2016 · 09:50 PM
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Singapore

AN internal audit, commissioned by Jason Holdings' audit committee, has found certain lapses and a potential overstatement of about S$2 million in the parquet firm's results for the half year ended June 30, 2015 (HY2015).

The company, which has requested a voluntary suspension in the trading of its shares on Wednesday, said the internal audit was commissioned following feedback received from an employee on certain operational aspects of its subsidiaries, namely Jason Parquet Specialist (S) Pte Ltd (JPS) and White Cubic Pte Ltd, as well as the general tight cash flow position of the group.

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