The Trendlines Group (SGX:42T) revealed that it is conducting a potential misappropriation of funds from the accounts of its subsidiary, Trendlines Agrifood Innovation Centre, according to a Thursday filing with the Singapore Exchange.

Based on preliminary findings, an employee has emerged to be involved in the misappropriations while the total amount has not been determined.

The group will disclose further findings once the investigations have concluded.

Shares of the agrifood and medical technologies company were down nearly 2% in recent trading.