Natural Cool's auditor adds 'emphasis of matter' relating to probe at paint units
Singapore
THE auditor for Catalist-listed airconditioning group Natural Cool has included an emphasis of matter in its report on the firm's financial statements for its financial year 2016, related to the new board's decision to probe alleged irregular transactions at some paint division units.
Noting the firm had "recently" formed an internal investigation committee, KPMG said that the "ultimate outcome of the matter cannot presently be determined" since the investigation was "still in progress", and the firm's financial statements for its financial year ended December 2016 have not been adjusted for any findings from the probe.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Computer parts maker Logitech Q4 sales rise; first positive quarter in over two years
Barclays says it’s winning Asia banking business from US firms
China central bank wants to halt bond-buying spree, not join it
Gold holds steady as investors focus on US Fed meeting
Singapore shares open in the red on Tuesday; STI down 0.3%
Huawei’s pivotal role in the US-China tech war, from 5G to chips