It also hopes to extend the schedule for its annual general meeting by two months.
Camsing Healthcare has applied to the Singapore Exchange Securities Trading (SGX-ST), and will be applying to the Accounting and Corporate Regulatory Authority (ACRA), for an extension of time to release the financial results for FY2019, as well as an extension of two months to hold its annual general meeting (AGM) by 31 July, an announcement revealed.
Pursuant to the rules underlined in the SGX-ST Listing Manual, the company is required to announce its FY2019 financial results by 1 April and hold its AGM by 31 July.
Camsing Healthcare is seeking the waiver as it is in the process of finalising the appointment of a professional firm to assist the Board to look into audit matters, work towards a suitable resolution and propose more effective controls to prevent the recurrence of the issues.
The company is aiming to finalise the appointment within a week.
“Until such time the auditors receive satisfactory responses and resolution of the Audit Matters raised, the auditors will not be able to finalise the audit for FY2019. The Board is of the view that it is prudent to seek to waiver to allow the professional firm and auditors to complete their work before the company announces its FY2019 financial results and to hold its AGM,” Lo Ching, Camsing Healthcare’s executive chairman explained in a filing with the local bourse.
“Having considered the complexity of the audit matters, the board is of the view that a two months extension should provide sufficient time for all parties to complete their work,” he noted.
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