Morning business news round-up for Oct 27, 2014

SINGAPORE - Catch up on the morning's top business headlines in Singapore with The Straits Times Money Desk's daily update.

1. LionGold's financial statements fail to get clean bill of health. Troubled LionGold, one of the stocks at the centre of the penny stock debacle, announced that its latest set of financials for the year ended March 31 have failed to get a clean bill of health from the auditors PwC. The audited set of financials also show large differences with the numbers earlier disclosed.

4. RafflesMedical earnings up 11% on more patients, clinics and specialists. Mainboard-listed RafflesMedicalGroup announced on Monday morning an 11.3 per cent rise in net profit after tax to $15.43 million for the third quarter of this year from $13.87 million for the same period a year ago.

3. Goldman slashes crude oil price forecasts. Goldman Sachs has cut its price forecast for Brent and West Texas Intermediate by US$15 a barrel for the first quarter of 2015 because rising production in non-OPEC countries outside North America is expected to outstrip demand.

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