Lifebrandz seeks trading halt pending announcements

FORMER nightlife entertainment behemoth Lifebrandz Ltd has requested for a trading halt for its shares.

The chief executive officer of Catalist-listed Lifebrandz, Chng Weng Wah, said in a release to the Singapore Exchange on Wednesday morning that it will be releasing announcements soon.

On Oct 31, Lifebrandz's auditors flagged concern over the group's ability to continue as a going concern.

Mazars LLP noted that the group had a net current liability of S$164,000, and net total liability of S$158,000 as at July 31, 2016. It also incurred a net loss of S$1.07 million and had net operating cashflows of S$987,000 for the financial year ended July 31.