The Singapore-listed firm’s auditors, BDO LLP raised the issueon Friday, pointing out that liabilities heavily outweigh the totalvalue of its assets.
However in a statement the shipyard assured investors it hasthe backing of creditors to see it through the downturn.
“The Group has not encountered and currently does notencounter difficulties in continuing to utilise its existing banking facilities,”JES responded today.
“In addition, the Group has secured banking facilitiesamounting to CNY 135m from various financial institutions subsequent to thefinancial year end.”
