China Kangda Food Co (SG:P74) has released an update.
China Kangda Food Co., a company listed in Hong Kong and Singapore, provided supplemental information to its Corporate Governance Report after its auditors, BDO Limited, expressed concerns over the company’s ability to continue as a going concern. Despite the Company’s efforts in extending loan repayments and securing renewals for existing bank loans, the auditors issued a disclaimer of opinion regarding the financial statements for the year ended December 31, 2023. The management disagrees with the auditors, emphasizing their cash flow forecasts and ongoing negotiations with creditors to ensure sufficient financial resources.
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