SkillsFuture Singapore suspends Wong Fong unit from funding schemes for a year

SKILLSFUTURE Singapore (SSG) has suspended Wong Fong Industries' subsidiary, Ascer, from all its funding schemes for a period of 12 months from April 24. 

This comes after the statutory board found that Ascer's claims submissions had breached the SkillsConnect general terms and conditions. 

SkillsConnect is an e-portal by SSG for employers and training organisations to apply for accreditation of courses under the Singapore Workforce Skills Qualifications (WSQ) system, as well as for training grants for courses.

In a bourse filing on Wednesday, Catalist-listed transport engineering firm Wong Fong noted that Ascer has made restitution payment of about S$101,000 to the SSG. 

For the financial year ended Dec 31, 2019, Ascer incurred a loss before tax of about S$237,000, versus a profit before tax of about S$61,000 for the year-ago period. 

In view of the suspension, Wong Fong's audit committee has directed management to rectify various lapses highlighted by the SSG, the company said. 

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The audit committee has also directed the management to place additional emphasis on reviewing the internal controls of the group's training business during its annual internal audit.

"Based on these measures, the board believes that such lapses should not recur in the future," Wong Fong added. 

Wong Fong shares last traded on April 2.