CITICODE LTD. ADVANCE SCT LIMITED
(Company Registration Number: 200404283C)
AUDITOR'S COMMENTS ON ACCOUNTS
Pursuant to Rule 704(5) of the Listing Manual of the Singapore Exchange Securities Trading Limited ("SGX-ST"), the Board of Directors ("Board") of Advance SCT Limited ("Company") wishes to inform that the independent external auditors of the Company, Moore Stephens LLP ("MS" or "Independent Auditors"), have, in their Independent Auditors' report dated 6 April 2015 ("Report"), included a qualified opinion in relation to the audit of the financial statements of a subsidiary in China for the previous financial year ended 31 December 2013.
A copy of the Report is annexed hereto for shareholders' information.
Shareholders of the Company are advised to read the financial statements of the
Group for FY2014, which will be dispatched to them on or around 15 April 2015. By Order of the Board
Simon Eng
Chief Executive Officer
12 April 2015
INDEPENDENT AUDITORS' REPORT
1,. w. tw..._.dtlte -fìNnctll u.tln'MMI ol Adl>ff'ft $C'l Lllnlled..., '*Cionlp...,ec"d IU •..t>•kbrles 'Gtoup1se : Oo.A on peae:s l-4 110 m, whlch c...,l:lc tl'w b.t.nc:e sheets d ttwe Conp•f'' "th.e: Gro11p 01et 31Oea:mbcr 10W, .nd the COf'IIOIIdHtd 1'-le/Nnl d chon1e. In equlry. consdldeted stellemof compreh:ul'll: lncome end con•ollde•d 11eeemcm. qf cuh flows of ttle (iro..,.p fOt the yur then ded, ond o summory of Sllflltlaort .c:co...ntl"' polkles end other apl.enotory
lrdori"''!.UOn,
2. Man.aem.ert 15 ruponJiblc for the p-cperotlon of nnonclol tlti MII tllet 11woe e tnJe end felr vlew In eccord.nn wlth thc pro'ollslons of thc Sln&epore Compenl" Àd, Chepcer IO (the 'Act'1end Sl"'oporc F'lnenc.lel Aepornnc Stenderds, ond fordsin& ond molnt..INnJ • "fMcm of lntenel oeco: urtl"8 controls
111tndert to prowldee rea5oneble euun nce thet e ueh ere ufq11trded •ltl n d lon from uneutkorlsed
1110 or dhpoJIUon:end trenuc:tlons ore propetl y outhollsed end lkll thfV ore nc: orded u nec:us.&ry
lo p«mlt the pre,.ffUon or true11nd r1111 proflt end lon aC:C:OI.II'Ib tl'lcl btlance 5hft'U tnd to malrQin
•cco o nc.>blllty 011' aueb.
». OYt "'IIJtOn......, 15 to e!P"I!:U.,.... opinion on th:osc flntne..•llitlllft-* bttCod u,... audlt
lnacc:or4..-.a wahf'oe apore Scandtds onAfhoac ,..,_.,eh r'* • e c:-lflf....,
dlk.. ww:f p1..,.-nel o..dw:: ..clltto obulft ,.,...,_...••--•5to whdhtr be
nr.nc:'-1l' e «1ee b•e fr«fro-anut*"'HHIIl.
4 At -..•t.,..olra perfcwniirpoc es to obbil'l-* .-.a ebMt lhe ............ and tufo
the • IIU . fhc, pcoadMo::s 4 dtpellod . . ,._. ..,.._,)'loda--.rndr.ldirlc be
tJldll'l'lcnl d h rbb of tho mb.sc.tc-l't ofthe AIIMIC'-' tc.tttMAh,- diJ.e to fq...:l
or.Inlflosc ll.sk et sct sments, oudltor co•uldtr51'*"-' contrds "'' •Attloh e:ntllf't
,,.potttlon 011' llA•"c..l stete:-nts t...t tlote o 1Ne: •nd fllr •1-11'1 ord1tt 110 4al•n audlt proc:e:clìJ
lt!tt .,. appr-optlotlt In the clrc:umNI'Ic:t:t, but not for tllc p o rpou of op,.nlnt •" oplliQt'l 011 ttue· tfrte enuty't lnte:rne.l c:ortrob.An audi t •Iso ll'lclo. dn ....•l u•una lhe tpproprltteneu or tCCOtnll AI pollclcl u secl ond ree lonoblcneu of ac:coununa t llmalft mad c by m an•·. n well u....•l utuna lhc ow ll P"C$1!:fQtlon or thc flne.ncl•l stat.cii'ICI'rlll.
l. Wc bell.,..c tkeot the oucllt e;tldenc:e-1erf'c obtolned ls sufflCifl'll • n4 tpproprltte to pro'flclc t bnls foro" ' q o tllfloudn oplnlon.
Llmia.rJOn ul Scope 1n •udiins the h .t u..M ..enr• o! • J.I.6Jidl.ty eomp.nr /or thc ,nvrous
rHrcrtlkd JJ Go eernb.er20J J
• · 0111 lncl ndent • udltors' re.port d 8 12014 0o111hc flf'af'CJ•I ••• nt.nllr..,thepre'I'IOI.I5 nneoncleol
Y-cnded l' Occ:ember lOU Cl p tte:S5• llflcd t oM OpiNOn duc IO U!e lllrf..Uon 011' w:ope 111
IWMt-11 thc flnwtd.. l!ftlent5 cd" • wbtadlwy CO!'lllp""" for tht ptMOUJ f"'-1..ycw etclecl lt
Dtcc....., 200.
'l Jl.ellNnchf dSh!n:.-.TedwMiog Co. Udt•MAHIIW, c:...,.., buc41nf'oe PeopkRepA!k ql O.. wtlich WI.. l .1-,JO'Il).. for lhe p-5 flnenc:W yu 1 mltd )t Oec:cmbef 1011.. _,, by ....tltcw wlllch -• bt o d Inh '"s Rep.tllk ofCNN.
INDEPENDENT AUDITORS' REPORT
... . .....,. ftll.t.dotii'IU SCT LleUcl
e, fhe eonsMI41ted flnondel sc.teme-nu of the Gro"'P for the pre-1out nn el yeet endr:d li o -ber
101) lftcluded 11u l'Id profll, total tneu, tot.l ll•bllltles 1nd nd atMU ol tt. tUb51cflety c:omp•ny
emovnuto S$40,JH, S$7,SS9,S68, 55S,8l8,98S1nd 55VlO,UJ.rltp.etllrdy.
9, We _,,uneble to rform norrr.l udlt pro«dure u IUdiiOII of the Comp.f'ly on tNs subsldlory for thl purpose of ptO'I'Idlna•n oplrion on the c:on.lolld1ted fln.Mitl •t.tcmcMs of the Group for the plou• fln•ntiol yeor Mded 11 De-c:..-mber 2013. Con leql.lently, Wl w ere un1blc to deWifnlwlelt tJv•tmC'tlls, 1f ony, mi&M be requlroed to the c:on.lolldtted flntnCIJI tt.lem.c.M.s of the Group fot the p tou•flnenc:iol ycor ended 31 Oe«2013.
10, Slnc.lhe opcrtnab1lonce d the flnenc:lel UIJ:ml:nls of thc sublld!•ry comp.ny alfect thc dewtmiMtlon of t!w GrourJs re:sults of operatlon.s, we ore uneblc to det ermln1 whi'Ù'IC'I' tdjulln'IMil to tllc rcwlu of lh•Group's opcrotlons nd tl'lc Group'1openlnt•ccurr111l.wd lou.n mltllt be netllc currcrt fllllnel•l yc•r end )l Occm b et" 101.4.
n, 1ft "' .,.,._Cl'. accp for tbc dfects ol h "*kr ducrt'"4 1ft . . .,,, fot QwUfìo:d Opir'fon
Pl' l 6.tol IO,d'le b.a.-.cc shoed o(lfl,c -"' 0.Ct MdldiiMdft.oiMICllf U.......U ofthe
-= Jlf'Of'«fy "'P .,...::corobntt wD the pr•l'cl h Aa .nd S,...pon R....csel
.........so u110 1UM .-dflir ..d h etf-'" oltk Co.!fq .nd dC
., • •DK-20M .-dOoe '"...,_ es t• equ11y 111'4 c•lh lloW'I ol tk Gro.p for fv::
flrwocoll ycw c:ndl:l:l on Il dllt
v. Il 0111' op.II"'Ooll, thc •ccountln& nd other reurd1rcq o lrcd by tl!e At'IIO beo lept by 11u Coll'po,..- ord by tllosc sutnldl•flcs lnootporeoteclln Slnpporc of wt-.lch we •t••11dltcW111-bcoen propctly k"Pfln ICC"Oic:t.necwlth tl!c ptowlslons of tlleAct.
.Meelt SM p1Mn1LLP Publ!c Àccourt•nl.l •nd Cllelll'l'•d Àccourt•nt.s
Slnt•POr•
• Apr11201S
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