Ying Li International flags potential discrepancies in financial statements

Singapore

YING Li International Real Estate has been given a further extension of time by the Singapore Exchange to report its Q2 results due to potential discrepancies in its financial statements found by its new finance team.

The new deadline is Nov 14.

The potential discrepancies could result in a decrease of up to about 30 per cent of the consolidated net tangible assets (NTA) of the group, based on its audited consolidated NTA for the year ended Dec 31, 2018.

The company is currently working with "an internationally recognised and reputable accounting firm" to conduct an independent check and special standalone review of the potential discrepancies …