Blumont's independent auditor raises doubts on group's ability to continue as a going concern

SINGAPORE (Apr 17): Moore Stephens, the independent auditor of Blumont Group, has raised doubts about the group's ability to continue as a going concern, based on the group’s audited financial statements for the financial year ended December 2014.

Moore Stephens said the group had incurred a net loss of about $66.2 million and a total comprehensive loss of about $68.8 million.

As at end Dec, Blumont’s current liabilities also exceeded its current assets by $16.5 million and the company's current liabilities exceeded its current assets by about $32.9 million.

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