Auditors flag Stratech's ability as going concern

SINGAPORE (July 22): The independent auditor of technology solutions provider Stratech Group has cast doubt on the group’s ability to continue as going concern.

In its report for the group’s financial statements for the FY16 ended March, auditors Baker Tilly TFW LLP noted that the group incurred a net loss of $9.60 million and reported net cash outflows from operating activities of $8.73 million. In addition, the group also reported net current liabilities of $5.39 million in the same period.

Meanwhile, Stratech is negotiating the repayment terms for a $1.15 million banking trade line which was due June 30.

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