| WILLAS-ARRAY | 00854 | | 10-Feb-25 | | The Company became an indirect subsidiary of Shanghai YCT. In view of the foregoing, notwithstanding the reappointment of Deloitte Singapore, the Board is of the view that the Proposed Change of Auditors would allow both Shanghai YCT Group and the Group to boost audit efficiencies and streamline the financial management process by engaging the same global firm of auditors. The Board is also of the view that this change will provide the Group with a fresh perspective and enhance the value of the audit. Although Deloitte Singapore has only served as the Company’s auditor for about two years, after consulting with the Audit Committee, the Board concludes that a change at this stage, as outlined above, is appropriate for good corporate governance and to benefit from the expertise of a new audit firm. |
