SGX reports YuuZoo to 'relevant authorities' for possible breach of Securities and Futures Act after issuing notice of compliance

SINGAPORE (Apr 2): Singapore Exchange Regulation (SGX RegCo) has reported YuuZoo Corporation to the "relevant authorities" for possible breaches of the Securities and Futures Act, following the issue of a second notice of compliance to the e-commerce company in less than a month.

In Monday's notice of compliance, SGX RegCo ordered independent auditors Ernst & Young Advisory (EY) to provide it with a copy of the executive summary of its initial findings on YuuZoo as soon as it is finalised. The findings in the interim report is also to be released immediately via SGXNet upon its receipt.

On July 2017, YuuZoo announced it was engaging an independent auditor to investigate claims of poor corporate governance in the e-commerce company.

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