Brief: GS Holdings Says It Received Independent Review Report

Octopus (APAC) Holdings

14/04/2023 09:24

April 14 (Reuters) - GS Holdings Ltd  GSHO.SI :
    * RECEIVED INDEPENDENT REVIEW REPORT FROM DELOITTE & TOUCHE
FINANCIAL ADVISORY SERVICES
    * REVIEWER IDENTIFIED LACK OF POLICIES & STANDARD OPERATING
PROCEDURE GOVERNING OPERATIONS OF BOP BUSINESS
    * REVIEWER IDENTIFIED INADEQUATE LEGAL & FINANCIAL DUE
DILIGENCE
CONDUCTED ON RELEVANT PARTIES TO THE BOP  BUSINESS
    * REVIEWER IDENTIFIED LACK OF INDEPENDENT REVIEW OF THE
INTERNAL
POLICIES, AMONG OTHERS
    * BOARD OF VIEW THAT THERE WERE ADEQUATE LEGAL & FINANCIAL
DUE
DILIGENCE, AMONG OTHERS IN RELATION TO BOP BUSINESS
    * REVIEWER RECOMMENDS CO SHOULD ENSURE POLICIES & SOP FOR
NEW
BUSINESSES ARE DEVELOPED & IMPLEMENTED WITH STRICT MONITORING,
AMONG OTHERS
    * WILL ENGAGE ITS INTERNAL AUDITOR TO REVIEW ITS EXISTING
SOPS
RELATING TO INVESTMENTS AND ACQUISITIONS
    * MAY ALSO ENGAGE OTHER EXTERNAL PROFESSIONALS TO ASSIST IN
STRENGTHENING AND IMPLEMENTING EXISTING OR NEW SOP

Source text for Eikon:  ID:nSN92R1s7 
Further company coverage:  GSHO.SI 

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