YuuZoo shares dive after auditors' disclaimer of opinion
Moore Stephens not seeking re-election; YuuZoo says it's looking for a new auditor who fully understands its business
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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.
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