YuuZoo shares dive after auditors' disclaimer of opinion

Singapore

YUUZOO fell as much as 12.5 per cent to an intra-day low of S$0.175 on Thursday after its auditors Moore Stephens LLP issued a disclaimer of opinion over the firm's audited FY15 consolidated financial statements, and announced that they do not plan to stand for re-election as auditors.

The social media, e-commerce and entertainment company finally ended the day down 9.5 per cent at S$0.181. Some 49.1 million shares changed hands, making it the fourth most heavily traded counter.

Moore Stephens on Wednesday, in their finalised auditors' report, said they "have not been able to obtain sufficient appropriate audit evidence to provide a…