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Vosta Parent management responds to “Going Concern” status from auditor

Posted on December 1, 2020

In November the independent auditor of ASL Marine, the parent of Vosta Dredging equipment, cited the company as having a material uncertainty as a “going concern” due to continuing losses and debts on its balance sheet.

ASL, which is publicly traded on the Singapore stock exchange, but is more than 50% owned by the Ang Family, has responded to the auditor’s report with this formal filing of investor Q&A.

The Ang Family noted that management has taken a 40% pay cut.

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