Sakae Holdings changes fiscal year end from December to June

SAKAE Holdings on Thursday announced the change of the company's financial year end from Dec 31 to June 30.

With the change of financial year, the next set of audited financial statements for the financial period ending June 30, 2018 will cover a period of 18 months - from Jan 1, 2017 to June 30, 2018.

"The reason for the change of financial year end was arrived at after taking into consideration the group's reporting requirements and to facilitate better management of resources for smooth flow of business operations and financial reporting, resulting in better administrative and operational efficiencies," the food and beverage company said.