KS Energy believes group will continue as a going concern

Singapore

KS Energy believes that the group will continue as a going concern. The oilfield services firm said this on Wednesday in response to a Singapore Exchange query relating to an "emphasis of matter" by its auditor for its 2016 full-year results.

The group referred SGX to an extract of the emphasis of matter from the independent auditor. While acknowledging that there were uncertainties over the group's ability to generate cashflows to meet its debt obligations, KS Energy said that it has "reasonable expectation" that it will have enough resources to continue its operations for at least until the end of the year.