YuuZoo's former director provides bond to report back to CAD

YuuZoo's former director provides bond to report back to CAD

By: 
Samantha Chiew
23/05/18, 07:38 am

SINGAPORE (May 23): YuuZoo on Tuesday announced that former chairman Thomas Zilliacus has provided a bond to report back to the Commercial Affairs Department (CAD) on June 4, to assist further in CAD’s investigation regarding a potential breach of the Securities and Futures Act.

See: YuuZoo confirms CAD investigation into company and chairman Zilliacus

In addition, Zilliacus also voluntarily provided the CAD with a complete chronological summary relating to all financial announcements of YuuZoo during 2015-2017 and has informed the CAD of his desire to continue to share with the CAD all information he has in relation to their investigation.

Along with the provision of the bond, Zilliacus has his passport returned back to him for overseas travel.

See: CAD raids YuuZoo's office; passport of chairman Zilliacus seized

Separately, the group also announced that it has taken action on a notice of compliance issued by the Singapore Exchange (SGX) earlier on March 5.

See: SGX hits YuuZoo with compliance notice to explain variance in numbers

The group has engaged its statutory auditor to provide an opinion on the veracity and reasonableness of some items in the group’s financial statements for FY17.

Following discussions with the auditors, YuuZoo will reduce its FY17 other income to $7.0 million from $8.0 million.

It will also impair 100% of its available for sale (AFS) assets worth $54.2 million.

And not book any value from the 2017 sale of network development and franchise licenses.

Shares in YuuZoo were suspended on March 19, closing at 3.8 cents.

UnUsUaL reports 32% higher FY19 earnings of $13.2 mil on improved revenue & margins

SINGAPORE (May 27): UnUsUaL Limited has reported $13.2 million in net profit for the FY19 ended March, representing a 32% increase from FY18 net profit of $10 million due to higher revenue and improved margins. Revenue for the full year rose 22.6% to $56.9 million compared to $46.4 million a year ago. The topline growth was mainly attributed to higher revenue contributions from the company’s Promotion and Others segments. In line with the higher revenue, gross profit grew by $5.1 million to $23 million for the full year, while operating expenses increased 16.6% to $6.9 million. G....
Read More >>

Bukit Sembawang sinks into the red with 4Q losses of $11.6 mil on one-off impairment, allowance

SINGAPORE (May 27): Bukit Sembawang Estates sank into the red with losses of $11.6 million for the 4Q18/19 ended March, compared to earnings of $22.0 million a year ago. This represented losses per share of 4.46 cents for 4Q18/19, compared to earnings per share of 8.48 cents in 4Q17/18. This was mainly attributable to a surge in other operating expenses to $22.0 million during the current quarter, from $1.5 million a year ago. The increase was mainly due to impairment loss of $9.7 million on property, plant and equipment relating to Fraser Residence Orchard, Singapore, and allowance o....
Read More >>

CapitaLand Mall Trust upgraded to 'buy' by UOB on Jurong Lake District plans, Funan launch

SINGAPORE (May 27): CapitaLand Mall Trust will benefit from the development of Jurong Lake District (JLD) as it has three retail malls located within Jurong Gateway, says UOB KayHian. See: CapitaLand Mall Trust declares 3.6% higher DPU of 2.88 cents on higher income IMM Building, JCube and Westgate, which in total accounts for 20% of CMT’s portfolio valuation, are located within Jurong Gateway and adjacent to Jurong East MRT station. Meanwhile, Funan, which is about 90% pre-committed for retail space and 98% pre-committed for office space, is scheduled to open next month. See als....
Read More >>