Midas board says firm is no longer a going concern

Singapore

MIDAS Holdings' board has warned that the company cannot operate as a going concern, while the firm's auditors said separately that its auditor reports for Midas from 2012 to 2016 can no longer be relied upon.

The maker of aluminium alloy extrusion products had received two letters of demand on March 9 and April 16, respectively, for 87.3 million yuan (S$18.29 million) and US$6.9 million.