CHASEN HOLDINGS LIMITED
(Company Registration No.: 199906814G)
(Incorporated in the Republic of Singapore)
VARIANCE BETWEEN THE UNAUDITED FULL YEAR FINANCIAL RESULTS ANNOUNCMENT AND AUDITED FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 MARCH 2021
The Board of Directors of Chasen Holdings Limited (the "Company" or the "Group") refers to the Company's unaudited full year financial statements and related announcement ("Results Announcement") for the financial year ended 31 March 2021 which was released on 30 May 2021.
The Board wishes to announce that subsequent to the Results Announcement, the following reclassification adjustment for bank loans of S$3.1 million from non-current liabilities to current liabilities was made, as three of the Company's subsidiaries at 31 March 2021 had loan gearing ratio of 1.58 times which was above the bank's required ratio of 1.5 times.
Statement of Financial Position
S$'000 | Unaudited Results | Audited Results | Variance |
Non-current liabilities | |||
Bank loans | 24,240 | 21,115 | (3,125) |
Current Liabilities | |||
Bank loans | 33,576 | 36,701 | 3,125 |
Request to waive the gearing ratio requirement was sought and subsequent to the reporting date, the subsidiaries had obtained the waiver from the said bank.
By Order of the Board
Low Weng Fatt
Managing Director and CEO
13 July 2021
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Chasen Holdings Limited published this content on 13 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 July 2021 14:36:08 UTC.