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.
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