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SGX, independent auditors raise questions over health of Capital World's finances

Stanislaus Jude Chan
Stanislaus Jude Chan10/15/2019 1:11 PM GMT+08  • 5 min read
SGX, independent auditors raise questions over health of Capital World's finances
SINGAPORE (Oct 14): Capital World, the property developer formerly known as Terratech Group, says it believes it is able to continue as a going concern, despite a disclaimer opinion by the company’s independent auditors Messrs Ernst & Young LLP in the g
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SINGAPORE (Oct 14): Capital World, the property developer formerly known as Terratech Group, says it believes it is able to continue as a going concern, despite a disclaimer opinion by the company’s independent auditors Messrs Ernst & Young LLP in the group’s FY19 financial statements.

Going concern is an accounting term for a company that has the resources needed to remain in business for the foreseeable future.

For the FY19 ended June, Capital World sank to a net loss of RM46.8 million ($15.3 million), reversing into the red from earnings of RM56.6 million a year ago.

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