YuuZoo Networks   

Yuuzoo - The truth must be revealed!

Over the years I have lost count of how many listed firms ran foul on our bourse. Surely something can be done to change this. If not, buying local stocks is like going to a Casino. ......" is like a box of chocolates......you never know what to expect" .  This seems like " suka suka main main" saga with not even a slap on the wrist. Who next? It' s so easy isn' t it. Just imagine investors bought in due to their" stretching the truth" ......any chance of a recourse and get money back?

sheerluck      ( Date: 08-May-2017 19:33) Posted: Well done SGX for asking a necessary but useless question to justify your existence. Well done Yuuzoo for being so kind-hearted to your shareholders. Now you two can get married and live happily everafter. Morello      ( Date: 08-May-2017 18:53) Posted: The board of directors (the &ldquo Board&rdquo ) of YuuZoo Corporation Limited (the &ldquo Company&rdquo ) would like to respond to the following query raised by the Singapore Exchange Securities Trading Limited (the&ldquo SGX-ST&rdquo ) in connection with the Company&rsquo s announcement onthe above-captioned subject matter dated 4 May 2017:   SGX-ST&rsquo s Query 1: Please explain why the Company' s annual report was not ready in time to allow sufficient requisite notice to shareholders of the Company prior to the date of AGM pursuant to Rule 707(1) of the Listing Manual.   The Company&rsquo s Response:   The Company has appointed new auditors, RT LLP (the &ldquo Auditors&rdquo ) to take over from its former auditors, Moore Stephens LLP, who in 2016 were unable to express an opinion on the FY 2015 results of the Company.    To avoid facing the same issues that prevented MooreStephens LLP from expressing an opinion on the FY 2015 results, the Company has taken great care to in 2016 ensure even more prudent and transparent financial reporting. The Company has also adopted significantly more conservative accounting policies than in 2015.This has included a number of adjustments to the financial statements in order to make them more conservative,more prudent and more supportable.   The process has included intense interaction between RT LLP and the Company, which has resulted in some delays of the already significant audit process and time required to audit FY2016.   In light of the above, to ensure that the Auditors were given sufficient time to conduct a thorough and high quality audit, in particular of the underlying principles of the business models of the Group, which is in the best interests of shareholders in that it allows shareholders to be fully appraised of the Company&rsquo s financial performance in 2016, the Company has applied for an extension of time to hold its AGM for FY2016.   By Order of the Board Thomas Zilliacus Executive Chairman 8 May 2017

 

Agree with you this time more conservative, why? Because cannot pun pi pi any more. One more time disclaimer sure kaput. So better listen to auditors and show the real numbers and be a good corporate citizen. Then what will happen??? Sure crash lah because last 2 years numbers no hold water. Then we buy low sell high.

Shifu8888      ( Date: 08-May-2017 20:56) Posted: Come on gentlemen, signing of public accounts fall under the purview of Audit Committee lah... the debacle of FC might have blown out of proportion. Just wait patiently. (I am not vested but just waiting for the right moment to enter). Don't speculate further. RT is a reputable auditor. If the numbers are certified by RT, yuuzoo will fly to holland. Yes... fly to northward to holland. If the accounts have lots of provisions, it may not be too bad as this time round there should be adequate housekeeping and more conservative approach. Lets see. bank123      ( Date: 08-May-2017 20:42) Posted: Wapian !  want high salary but kiasi. The Chairman explains so well the revenue model but kiasi to sign off the revenue. He has announced so many deals in the past, did he sign off the deals ? SGX should query on the all the announcements. Relativity Media deal real or fate ? Did Yuuzoo sign off Relativety Media' s deal ? Alibaba deal real or fate ? Did Yuuzoo sign off Alibaba' s deal ? These two are companies in the world. Can anyone update ?

 

Tmr will rise, huat arr

 

just watching all the drama from the sidelines...:)

 

last year, the management still Stubbornly insist their " big 4" revenue recognition is correct and insist that it was MooreStephens that dont understand their business model.

I guess now have to eat humble pie. 

 

 

Come on gentlemen, signing of public accounts fall under the purview of Audit Committee lah... the debacle of FC might have blown out of proportion. Just wait patiently. (I am not vested but just waiting for the right moment to enter). Don't speculate further. RT is a reputable auditor. If the numbers are certified by RT, yuuzoo will fly to holland. Yes... fly to northward to holland. If the accounts have lots of provisions, it may not be too bad as this time round there should be adequate housekeeping and more conservative approach. Lets see.

bank123      ( Date: 08-May-2017 20:42) Posted: Wapian !  want high salary but kiasi. The Chairman explains so well the revenue model but kiasi to sign off the revenue. He has announced so many deals in the past, did he sign off the deals ? SGX should query on the all the announcements. Relativity Media deal real or fate ? Did Yuuzoo sign off Relativety Media' s deal ? Alibaba deal real or fate ? Did Yuuzoo sign off Alibaba' s deal ? These two are companies in the world. Can anyone update ? Stanton      ( Date: 08-May-2017 20:15) Posted: When previous CFO joined they issue press relase on his background and listed co experience. Experienced CFO work only for few months then run road, what do you make of it. Now ask FC to sign. I think chairman should sign since he promote his shares at more than $1 but scared to sign. Hahah

 

Wapian !  want high salary but kiasi. The Chairman explains so well the revenue model but kiasi to sign off the revenue. He has announced so many deals in the past, did he sign off the deals ? SGX should query on the all the announcements.

Relativity Media deal real or fate ? Did Yuuzoo sign off Relativety Media' s deal ? Alibaba deal real or fate ? Did Yuuzoo sign off Alibaba' s deal ? These two are companies in the world. Can anyone update ?

Stanton      ( Date: 08-May-2017 20:15) Posted: When previous CFO joined they issue press relase on his background and listed co experience. Experienced CFO work only for few months then run road, what do you make of it. Now ask FC to sign. I think chairman should sign since he promote his shares at more than $1 but scared to sign. Hahaha bank123      ( Date: 08-May-2017 19:47) Posted: Very funny, Why Yuuzoo ask the Finanancial Controller to sign off their revenue policy ? Why didn' t Yuuzoo ask the Executive Chairman, CEO or CFO to do so when they should be the right persons to sign off revenue policy ? SGX should raise query ? Was the CFO afraid to sign off, then they ask FC to sign off ? Then now who to sign off the revenue recognition policy ? Perhaps Kenneth Lim can follow up with Yuuzoo.

 

Kong si mi sai.  

Stellar      ( Date: 08-May-2017 20:24) Posted: WOW, FM A STOCK MARKET ISSUE AND MAY BECOME VERY COMPLICATED INVOLVING OTHER SOVEREIGN NATION. SGP, DUBAI, NIGERIA AND FINLAND IN THE SPELLING. NO RESPECT FOR HUMAN. NO RESPECT FOR SOVERIGN NATION. RESPECTIVE DIPLOMAT MAY BE READING THIS PUBLIC. EITHER THE WRITER IS DRUNK OR TOO KNOWLEGEABLE OR TOO BRAVE OR TOO SHALLOW. GOOD LUCK.

 

WOW,

FM A STOCK MARKET ISSUE AND MAY BECOME VERY COMPLICATED INVOLVING OTHER SOVEREIGN NATION.

SGP, DUBAI, NIGERIA AND FINLAND IN THE SPELLING.

NO RESPECT FOR HUMAN.

NO RESPECT FOR SOVERIGN NATION.

RESPECTIVE DIPLOMAT MAY BE READING THIS PUBLIC.

EITHER THE WRITER IS DRUNK OR TOO KNOWLEGEABLE OR TOO BRAVE OR TOO SHALLOW.

GOOD LUCK.

 

 

When previous CFO joined they issue press relase on his background and listed co experience. Experienced CFO work only for few months then run road, what do you make of it. Now ask FC to sign. I think chairman should sign since he promote his shares at more than $1 but scared to sign. Hahaha

bank123      ( Date: 08-May-2017 19:47) Posted: Very funny, Why Yuuzoo ask the Finanancial Controller to sign off their revenue policy ? Why didn' t Yuuzoo ask the Executive Chairman, CEO or CFO to do so when they should be the right persons to sign off revenue policy ? SGX should raise query ? Was the CFO afraid to sign off, then they ask FC to sign off ? Then now who to sign off the revenue recognition policy ? Perhaps Kenneth Lim can follow up with Yuuzoo.  Shifu8888      ( Date: 08-May-2017 13:35) Posted: True..... Will need mogambo, investsg and investboy advice... :

 

Sure or not can fly so far to Horlan ? Horlan might need to consider seriuosly keeping it.

Stanton      ( Date: 08-May-2017 16:10) Posted: Yah, i also share same gut feelings with you. This one sure fly but fly to Horlan. LOL Shifu8888      ( Date: 08-May-2017 13:02) Posted: Against popular beliefs, I have got a gut feeling their new auditor may clear their accounts and share price may fly off. Well...... not sure how all the saga will pan out..... fingers crossed.

 

That what corporate mgmt are good at.   When it is time to sacrifice, they will but they will sacrificed kakia.

Who sign, who die.   Who should die.   Mgmt die die don' t sign becos they dont want to die.   So kakia should die for them........

bank123      ( Date: 08-May-2017 19:47) Posted: Very funny, Why Yuuzoo ask the Finanancial Controller to sign off their revenue policy ? Why didn' t Yuuzoo ask the Executive Chairman, CEO or CFO to do so when they should be the right persons to sign off revenue policy ? SGX should raise query ? Was the CFO afraid to sign off, then they ask FC to sign off ? Then now who to sign off the revenue recognition policy ? Perhaps Kenneth Lim can follow up with Yuuzoo.  Shifu8888      ( Date: 08-May-2017 13:35) Posted: True..... Will need mogambo, investsg and investboy advice... :

 

Very funny, Why Yuuzoo ask the Finanancial Controller to sign off their revenue policy ? Why didn' t Yuuzoo ask the Executive Chairman, CEO or CFO to do so when they should be the right persons to sign off revenue policy ? SGX should raise query ?

Was the CFO afraid to sign off, then they ask FC to sign off ? Then now who to sign off the revenue recognition policy ? Perhaps Kenneth Lim can follow up with Yuuzoo. 

Shifu8888      ( Date: 08-May-2017 13:35) Posted: True..... Will need mogambo, investsg and investboy advice... :) sheerluck      ( Date: 08-May-2017 13:26) Posted: How audtior clear if their own financial controller refused to sign off their revenue policy?   Surely this one warrant caution, no?

 

More likely from Dreamland.

Stanton      ( Date: 08-May-2017 19:43) Posted: Maybe from Finland. Dare to say but dare not name who and dare not show report,LOL. sheerluck      ( Date: 08-May-2017 17:18) Posted: Auditor must be from Singapore.   But the big-4 who come out with the revenue model might be from Nigeria.   Can Yuuzoo clarify? Also maybe all along we got it wrong.   The name of the audit company who comes out with the revenue mode is called " A Big-4" .   Yuuzoo must be wondering already tell you' ll is A Big-4 why keep asking???????

 

Maybe from Finland. Dare to say but dare not name who and dare not show report,LOL.

sheerluck      ( Date: 08-May-2017 17:18) Posted: Auditor must be from Singapore.   But the big-4 who come out with the revenue model might be from Nigeria.   Can Yuuzoo clarify? Also maybe all along we got it wrong.   The name of the audit company who comes out with the revenue mode is called " A Big-4" .   Yuuzoo must be wondering already tell you' ll is A Big-4 why keep asking??????? treetops      ( Date: 08-May-2017 16:44) Posted: Unless the auditor is from Dubai. lol

 

Yuuzoo ran out of favour recently...time for the boys to switch to other tech penny

 

Well done SGX for asking a necessary but useless question to justify your existence.

Well done Yuuzoo for being so kind-hearted to your shareholders.

Now you two can get married and live happily everafter.

Morello      ( Date: 08-May-2017 18:53) Posted: The board of directors (the &ldquo Board&rdquo ) of YuuZoo Corporation Limited (the &ldquo Company&rdquo ) would like to respond to the following query raised by the Singapore Exchange Securities Trading Limited (the&ldquo SGX-ST&rdquo ) in connection with the Company&rsquo s announcement onthe above-captioned subject matter dated 4 May 2017:   SGX-ST&rsquo s Query 1: Please explain why the Company' s annual report was not ready in time to allow sufficient requisite notice to shareholders of the Company prior to the date of AGM pursuant to Rule 707(1) of the Listing Manual.   The Company&rsquo s Response:   The Company has appointed new auditors, RT LLP (the &ldquo Auditors&rdquo ) to take over from its former auditors, Moore Stephens LLP, who in 2016 were unable to express an opinion on the FY 2015 results of the Company.    To avoid facing the same issues that prevented MooreStephens LLP from expressing an opinion on the FY 2015 results, the Company has taken great care to in 2016 ensure even more prudent and transparent financial reporting. The Company has also adopted significantly more conservative accounting policies than in 2015.This has included a number of adjustments to the financial statements in order to make them more conservative,more prudent and more supportable.   The process has included intense interaction between RT LLP and the Company, which has resulted in some delays of the already significant audit process and time required to audit FY2016.   In light of the above, to ensure that the Auditors were given sufficient time to conduct a thorough and high quality audit, in particular of the underlying principles of the business models of the Group, which is in the best interests of shareholders in that it allows shareholders to be fully appraised of the Company&rsquo s financial performance in 2016, the Company has applied for an extension of time to hold its AGM for FY2016.   By Order of the Board Thomas Zilliacus Executive Chairman 8 May 2017

 

Are they the same and one person? got banned? either way  got some people think they got exposed as employee of Yuuzoo. Probably not coming back.

Shifu8888      ( Date: 08-May-2017 13:35) Posted: True..... Will need mogambo, investsg and investboy advice... :) sheerluck      ( Date: 08-May-2017 13:26) Posted: How audtior clear if their own financial controller refused to sign off their revenue policy?   Surely this one warrant caution, no?

 

BT journalist Kenneth Lim revealed this morning that Mr Thai quit the co because  he disagreed and refuse to sign of the  yuuzoo  revenue recognition calculation. Enough said. Same old shit.

Morello      ( Date: 08-May-2017 18:53) Posted: The board of directors (the &ldquo Board&rdquo ) of YuuZoo Corporation Limited (the &ldquo Company&rdquo ) would like to respond to the following query raised by the Singapore Exchange Securities Trading Limited (the&ldquo SGX-ST&rdquo ) in connection with the Company&rsquo s announcement onthe above-captioned subject matter dated 4 May 2017:   SGX-ST&rsquo s Query 1: Please explain why the Company' s annual report was not ready in time to allow sufficient requisite notice to shareholders of the Company prior to the date of AGM pursuant to Rule 707(1) of the Listing Manual.   The Company&rsquo s Response:   The Company has appointed new auditors, RT LLP (the &ldquo Auditors&rdquo ) to take over from its former auditors, Moore Stephens LLP, who in 2016 were unable to express an opinion on the FY 2015 results of the Company.    To avoid facing the same issues that prevented MooreStephens LLP from expressing an opinion on the FY 2015 results, the Company has taken great care to in 2016 ensure even more prudent and transparent financial reporting. The Company has also adopted significantly more conservative accounting policies than in 2015.This has included a number of adjustments to the financial statements in order to make them more conservative,more prudent and more supportable.   The process has included intense interaction between RT LLP and the Company, which has resulted in some delays of the already significant audit process and time required to audit FY2016.   In light of the above, to ensure that the Auditors were given sufficient time to conduct a thorough and high quality audit, in particular of the underlying principles of the business models of the Group, which is in the best interests of shareholders in that it allows shareholders to be fully appraised of the Company&rsquo s financial performance in 2016, the Company has applied for an extension of time to hold its AGM for FY2016.   By Order of the Board Thomas Zilliacus Executive Chairman 8 May 2017