Byt Holdings Ltd. (TSE:BYT) has released an update.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
BYT Holdings Ltd. has announced the retraction of their audit report for the 2020 financial statements due to material misstatements related to an undisclosed termination of a major contract. The contract in question, a waste management project with a Chinese municipal government, led to a significant write-off of S$2.7 million, which has since been addressed in the subsequent year’s financials. BYT, a Singapore-based provider of engineering and construction management solutions, emphasizes the full disclosure and accounting for this adjustment in their 2021 financial statements.
For further insights into TSE:BYT stock, check out TipRanks’ Stock Analysis page.