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Viz Branz auditors decline to give firm's accounts clean bill of health

Published on Dec 6, 2012 9:32 PM
 
Mr Chng Khoon Peng, founder and former executive chairman of Viz Branz. The external auditors of Viz Branz have declined to offer an opinion on the accounts of the company. -- PHOTO: VIZ BRANZ, 2008 ANNUAL REPORT

THE external auditors of Viz Branz have declined to offer an opinion on the accounts of the company.

Ernst & Young (E&Y) gave a disclaimer of opinion on Viz Branz's 2012 financial statements, arising from the allegations of Mr Chng Khoon Peng, an executive director, relating to alleged payment arrangements between his son Ben Chng Beng Beng and two Myanmar distributors.

Mr Ben Chng is the group's managing director and deputy chairman.

Mr Chng has since unreservedly dropped all his earlier allegations of impropriety that prompted him to lodge a complaint with the Commercial Affairs Department (CAD) in March.

 
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