Hatten Land (SGX:PH0) will adjust its financial statements for the year ending June 2024 following a review by the Accounting and Corporate Regulatory Authority of Singapore, according to a Thursday filing on the Singapore Exchange.
ACRA's review of Hatten Land's audited financials for the year ended June 2022 found non-compliance with Singapore Financial Reporting Standards (International) related to expected credit loss measurements and changes in repossessed property valuations.
The company agreed to revise its approach and include additional disclosures in its upcoming financial statements.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.