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Huan Hsin's auditors cast doubts on company's ability to continue as going concerns

PC Lee Published on Tue, Mar 27, 2018 / 7:51 AM GMT+8

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SINGAPORE (Mar 27): The independent auditors of Huan Hsin Holdings have cast doubts on the company's ability to continue as going concerns, based on material uncertainties in its FY17 ended Dec financial statements.

Deloitte and Touche said as at Dec 2017, the group's current liabilities exceeded its current assets by $50.3 million. The group also posted losses of $20.6 million for FY17.

Meanwhile, Huan Hsin has only available $6 million of undrawn committed short-term borrowing facilities.

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Huan Hsin's auditors cast doubts on company's ability to continue as going concerns