Universal Resource and Services, known as Sky China Petroleum Services until a name change in April 2013, has been suspended from trading since Feb 2017 and the special audit commissioned.
SINGAPORE (May 18): A special audit released earlier today has shown that internal controls at Universal Resource and Services Limited had failed, leading to discrepancies in its financial records over a significant period.
Coupled with multiple false disclosure to the investment public, a “systematic scheme of deceit” might have been “perpetrated within,” said SGX RegCo, referring to findings of the audit undertaken by Stephen Moore LLP.
