Abundance International (SGX:541) has proposed to change its auditor to Moore Stephens from Foo Kon Tan for the year ending Dec. 31, according to a filing with the Singapore Exchange on Wednesday.

The move is part of the company's efforts to manage business costs and expenses amid a challenging economic situation. However, the change in auditor is subject to shareholder approval.

According to the audit committee, the appointment of Moore Stephens will result in a small reduction of audit fee by about SG$4,000.