YuuZoo Networks   

Yuuzoo - The truth must be revealed!

He should have taken that photo with Ah Meng to prop up his popularity.

Stanton      ( Date: 03-Apr-2018 22:01) Posted: In Business Times now with Tarzan Photo: http://www.businesstimes.com.sg/companies-markets/yuuzoo-corp-under-investigation-by-cad-for-possible-breaches

 

In Business Times now with Tarzan Photo:
http://www.businesstimes.com.sg/companies-markets/yuuzoo-corp-under-investigation-by-cad-for-possible-breaches

 

Saying shit has hit the fan would be an understatement here.

Morello      ( Date: 03-Apr-2018 20:28) Posted: out of the frying pan into the fire...   ORDER TO COMPANY FOR PROVISON OF INFORMATION AND DOCUMENTS The Board of Directors of YuuZoo Corporation Limited (the &ldquo Company&rdquo ) wishes to announce that the Company has been informed by the Commercial Affairs Department (&ldquo CAD&rdquo ) of investigation into a potential offence under the Securities and Futures Act (Chapter 289) of Singapore pursuant to the provisions of the Criminal Procedure Code (Chapter68, 2012 Revised Edition) of Singapore.   The Company has received a notice dated 2 April 2018 from CAD requiring the Company to provide to CAD access to certain documents or information relating to the Company, its subsidiaries and associates from financial years 2013 to 2016 including all records and correspondences relating to franchises, franchising arrangements and the companies in which shareholdings interest were held (i.e. operating companies).   In addition to the above, the Company has been informed that Mr Thomas Zilliacus, the Company&rsquo s Chairman, also received a notice from CAD relatingto investigations by the CAD into the same matter.   As at the date of this announcement, the CAD has not disclosed to the Company any further details on the abovementioned investigations. The Company will cooperate fully with the CAD in its investigation and will make announcement asand when there are further significant developmentswith regard to this mater.

 

Wow....really on.  Very good.  Can also ask Yuuzoo to disclose that 2015 July US lawsuit with Hecklerco?  Did Yuuzoo fight to the end to prove its innocent or buy its way out?

Morello      ( Date: 03-Apr-2018 20:28) Posted: out of the frying pan into the fire...   ORDER TO COMPANY FOR PROVISON OF INFORMATION AND DOCUMENTS The Board of Directors of YuuZoo Corporation Limited (the &ldquo Company&rdquo ) wishes to announce that the Company has been informed by the Commercial Affairs Department (&ldquo CAD&rdquo ) of investigation into a potential offence under the Securities and Futures Act (Chapter 289) of Singapore pursuant to the provisions of the Criminal Procedure Code (Chapter68, 2012 Revised Edition) of Singapore.   The Company has received a notice dated 2 April 2018 from CAD requiring the Company to provide to CAD access to certain documents or information relating to the Company, its subsidiaries and associates from financial years 2013 to 2016 including all records and correspondences relating to franchises, franchising arrangements and the companies in which shareholdings interest were held (i.e. operating companies).   In addition to the above, the Company has been informed that Mr Thomas Zilliacus, the Company&rsquo s Chairman, also received a notice from CAD relatingto investigations by the CAD into the same matter.   As at the date of this announcement, the CAD has not disclosed to the Company any further details on the abovementioned investigations. The Company will cooperate fully with the CAD in its investigation and will make announcement asand when there are further significant developmentswith regard to this mater.

 

out of the frying pan into the fire...
 

 

Coming soon, an advertisement by the Zoo......................................

 

When will resume trading?  Cant wait liao.  Must buy fast.

 

SGX flags possible regulatory breaches at YuuZoo Corp, issues compliance notice
MON, APR 02, 2018 - 8:08 PM

THE initial findings from an independent review of mainboard-listed online media company YuuZoo Corp' s finances have been referred to the relevant authorities for possible breaches of listing rules.

The company has also been slapped with yet another notice of compliance - its second in as many months - from the bourse operator.

In an exchange filing on Monday, the Singapore Exchange (SGX) said a draft report from YuuZoo' s independent reviewer, Ernst & Young Advisory, showed that YuuZoo has not given EY necessary access to information and data.

The review was also restricted by scope exclusions imposed by YuuZoo which were inconsistent with the spirit of an independent review, SGX added.

The bourse said it issued a notice of compliance to YuuZoo on Monday, requiring its independent reviewers to submit an executive summary of their initial findings to SGX as soon as these are finalised. The company will also be required to publicly release these findings.

The bourse had suspended trading of YuuZoo' s shares in March, after the company missed a disclosure deadline tied to regulatory queries over its full-year results for the 12 months ended Dec 31, 2017.

The suspension will be lifted when regulators are satisfied that " the state of affairs of the company can be ascertained and the shares ... can be traded on a fair, orderly and transparent basis" .

SGX had previously demanded that the online media company explain some of the figures in its full-year results announcement and correct errors.

YuuZoo had been asked to account for certain financial figures, such as a year-on-year decline in group revenue, for the year to Dec 31, 2017.

SGX also flagged an " other income" amount of S$8 million in the fourth quarter, as well as an increase of assets available for sale and a corresponding sum recognised in revenue.

http://www.businesstimes.com.sg/companies-markets/sgx-flags-possible-regulatory-breaches-at-yuuzoo-corp-issues-compliance-notice

 

In addition, EY said the review was restricted by scope exclusions imposed by YuuZoo.

These actions " were inconsistent with the spirit of the independent review," said SGX RegCo.

JUST GIVE THEM A BIG FAT 0 FOR EVERYTHING. joke of the year!

 

from BT/ST:
" .......YuuZoo appointed EY last October to carry out an independent third-party review after a number of claims and allegations were made against the firm.

The review would look into issues raised in e-mails to the SGX and in six Business Times articles referred to in an announcement on July 17 last year. These related to claims filed by former YuuZoo staff against its former financial controller, including two different police reports, one of which was filed over alleged extortion.  Claims were also raised by the former financial controller in an e-mail sent to the SGX after his services were terminated...."

 

I think u r against RT, not Amal. Of course, u r free to write anything.

huathuat88888      ( Date: 03-Apr-2018 00:20) Posted: ALLIANCE MINERAL LIKE YUUZOO LAST TIME YUUZOO 40 CTS ALSO BECAUSE OF HYPE . NOW ALLIANCE MNERAL 36 CTS ALSO BECAUSE OF HYPE AS NAV ONLY 7 CTS AND NO SHIPMENT YET AND LOSS MAKING STILL.

 

ALLIANCE MINERAL LIKE YUUZOO LAST TIME YUUZOO 40 CTS ALSO BECAUSE OF HYPE . NOW ALLIANCE MNERAL 36 CTS ALSO BECAUSE OF HYPE AS NAV ONLY 7 CTS AND NO SHIPMENT YET AND LOSS MAKING STILL.

 

If CEO so confident, he just need to travel to SGX and sit down with them to discuss the business model.

then can solve the issues

 

Why u all so free? Study a misleading FS for what? Nothing can be trusted in e books.. only the bank account can trust i think..

tanchingku      ( Date: 02-Apr-2018 20:26) Posted: --- Post Removed by User ---

 

SGX flags possible regulatory breaches at YuuZoo Corp, issues compliance notice. http://www.businesstimes.com.sg/companies-markets/sgx-flags-possible-regulatory-breaches-at-yuuzoo-corp-issues-compliance-notice

 

 

Try to act smart and monkey with EY, if monkey with RT still got chance. Now looks like MAS will go after yuuzoo. Jialat leow, monkey backside sure open flower.

Alvin2042      ( Date: 02-Apr-2018 18:53) Posted: Sgx finally waking up to query Yuuzoo n susp the share trading. Now the monkey king may get penalize for breaches under securities & futures act. Stanton      ( Date: 02-Apr-2018 18:46) Posted: You are correct but in Yuuzoo?s case it is reported as Sales Revenue and not fair value gain. Because they chose to monkey around with revenue, IRAS will punish them.

 

Sgx finally waking up to query Yuuzoo n susp the share trading. Now the monkey king may get penalize for breaches under securities & futures act.

Stanton      ( Date: 02-Apr-2018 18:46) Posted: You are correct but in Yuuzoo?s case it is reported as Sales Revenue and not fair value gain. Because they chose to monkey around with revenue, IRAS will punish them. crowley      ( Date: 02-Apr-2018 17:59) Posted: Apologies if I was not clear. It' s not based on receiving of monies - you are right, even if monies are not received for normal trading invoices you would still be taxed.  Not to bore you too much, but financial assets generally falls under 4 categories, and in YZ' s case it' s " available for sale" . Fair value gains (ie revaluation gains) for AFS assets are not taxable until it is realised (ie sold off). Corporate tax computations would also seggregate the different income streams and allocate the relevant costs. So, operating income vs operating costs, other income vs the costs attributable to the other income. In any case, removing the AFS gains, the company is making losses, so no taxes to be paid. Who knows, the numbers here change so often.

 

Yuuzoo also monkey around with valuation oa asset purchase from Cinram and record $8million as Other Income instead of gain on revaluation. Should they be punished for monkeying around? Yuulog is in Europe so maybe they can get away.

 

You are correct but in Yuuzoo?s case it is reported as Sales Revenue and not fair value gain. Because they chose to monkey around with revenue, IRAS will punish them.

crowley      ( Date: 02-Apr-2018 17:59) Posted: Apologies if I was not clear. It' s not based on receiving of monies - you are right, even if monies are not received for normal trading invoices you would still be taxed.  Not to bore you too much, but financial assets generally falls under 4 categories, and in YZ' s case it' s " available for sale" . Fair value gains (ie revaluation gains) for AFS assets are not taxable until it is realised (ie sold off). Corporate tax computations would also seggregate the different income streams and allocate the relevant costs. So, operating income vs operating costs, other income vs the costs attributable to the other income. In any case, removing the AFS gains, the company is making losses, so no taxes to be paid. Who knows, the numbers here change so often.   Stanton      ( Date: 02-Apr-2018 15:52) Posted: As far as I know IRAS tax companies based on income earned in the reported year of assessment. This is regardless of whether monies have been received or not. Unlike personal income where we pay based on monies received. Maybe this is a big time bomb when IRAS review their 2015/6 annual report. Any accountant or tax expert can clarify?