YuuZoo reaches in-principle agreement with auditor on $8 mil compliance query

SINGAPORE (Mar 29): YuuZoo has arrived at an in-principle agreement to resolve SGX’s query of its $8 million of 4Q other income with its auditor, RT LPP.

The group, whose shares have been suspended from trading, says it now awaits a response from its French component auditor.

This comes after SGX’s Mar 5 notice of compliance (NOC) served to YuuZoo questioning the group’s reported other income of $8 million for 4Q17 compared to $0.2 million a year ago, as well as $54.2 million classified as assets for sale as of Dec 31.

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