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Incredible Holdings Faces Audit Delays Due to Unreceived Loan

Story Highlights
  • Incredible Holdings has not received a S$500,000 loan intended for audit completion.
  • The delay affects FY2024 and FY2025 audits and AGMs, prompting active lender engagement.
  • Looking for the best stocks to buy? Follow the recommendations of top-performing analysts.
Incredible Holdings Faces Audit Delays Due to Unreceived Loan

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An update from Incredible Holdings Ltd. ( (SG:RDR) ) is now available.

Incredible Holdings Ltd. has announced that it has not yet received a loan of S$500,000 from Datuk Chu Boon Tiong, which was intended to finalize the audit work for the financial year ending June 2024. This delay has impacted the company’s ability to complete its FY2024 audit and subsequently commence the FY2025 audit, resulting in the postponement of the annual general meetings for both fiscal years. The company is actively engaging with the lender to resolve the issue and aims to complete the audits and convene the AGMs as soon as possible.

More about Incredible Holdings Ltd.

Current Market Cap: S$5.99M

Learn more about RDR stock on TipRanks’ Stock Analysis page.

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