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Colex

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weijian Offline
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#21
30-03-2017, 08:48 PM (This post was last modified: 30-03-2017, 08:48 PM by weijian.)
An upgrade i suppose? Big Grin

PROPOSED CHANGE OF AUDITORS

The Board of Directors (the “Board”) of Colex Holdings Limited (the “Company”, and together with its subsidiaries, the “Group”) wishes to announce the proposed change of auditors of the Company from Foo Kon Tan LLP (“FKT”) to PricewaterhouseCoopers LLP (“PwC”) (“Proposed Change of Auditors”) for the current financial year ending 31 December 2017 (“FY2017”).

http://infopub.sgx.com/FileOpen/ColexAud...eID=445310
I am not a certified financial advisor and so nothing of what I say should be construed as financial advice. Please consult a certified financial advisor for advice instead.
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karlmarx Offline
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#22
30-03-2017, 09:21 PM
Is there really a difference which auditor is used?

Why not go for the lowest cost provider?
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enigmack Offline
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#23
30-03-2017, 11:04 PM
(30-03-2017, 09:21 PM)karlmarx Wrote: Is there really a difference which auditor is used?

Why not go for the lowest cost provider?

The perception of a big 4 auditors indicates the numbers are more reliable. However it does not translate to totally no fraud, or scam after a big 4 auditor is appointed.
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holymage Offline
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#24
30-03-2017, 11:20 PM
Arthur Anderson anyone?

Sent from my SM-G930F using Tapatalk
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hh488 Offline
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#25
31-03-2017, 08:44 AM
They have to change auditors since it is Co Act requirement.

Wow, 10 years indeed very long.

Anyway, good to have a different opinion.
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karlmarx Offline
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#26
31-03-2017, 07:51 PM
(30-03-2017, 11:04 PM)enigmack Wrote:
(30-03-2017, 09:21 PM)karlmarx Wrote: Is there really a difference which auditor is used?

Why not go for the lowest cost provider?

The perception of a big 4 auditors indicates the numbers are more reliable. However it does not translate to totally no fraud, or scam after a big 4 auditor is appointed.

I don't suppose it might make a difference for a Singapore-based company and business?
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specuvestor Offline
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#27
31-03-2017, 11:13 PM (This post was last modified: 31-03-2017, 11:15 PM by specuvestor.)
(31-03-2017, 07:51 PM)karlmarx Wrote:
(30-03-2017, 11:04 PM)enigmack Wrote:
(30-03-2017, 09:21 PM)karlmarx Wrote: Is there really a difference which auditor is used?

Why not go for the lowest cost provider?

The perception of a big 4 auditors indicates the numbers are more reliable. However it does not translate to totally no fraud, or scam after a big 4 auditor is appointed.

I don't suppose it might make a difference for a Singapore-based company and business?

Spend more to eat well or exercise does not mean won't get stroke or cancer, but it lowers the probability

If a company is purely locally based, probably getting an international audit firm is not much value add.
Before you speak, listen. Before you write, think. Before you spend, earn. Before you invest, investigate. Before you criticize, wait. Before you pray, forgive. Before you quit, try. Before you retire, save. Before you die, give. –William A. Ward

Think Asset-Business-Structure (ABS)
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karlmarx Offline
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#28
03-08-2017, 09:35 PM
Colex's profit for HY2017 is about 900k lower, which is due to government grants decreasing by that same amount. Cashflow continues to be healthy.

http://infopub.sgx.com/FileOpen/ColexRes...eID=465353
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brzuo Offline
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#29
24-08-2017, 10:35 AM (This post was last modified: 24-08-2017, 01:56 PM by brzuo.)
Colex 1H2017 revenue drops slightly. "The decrease from the waste disposal segment was mainly due to contracts renewed at lower rate and reduction in monthly refuse fees for the public waste collection segment as stipulated by National Environment Agency from 1 April 2017". This contradicts what NEA early announced - the monthly refuse fees increase 10% from Jan 2017.

http://www.nea.gov.sg/corporate-function...nuary-2017

Anyone knows why?
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TUBInvesting Offline
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#30
15-11-2017, 01:49 PM
(24-08-2017, 10:35 AM)brzuo Wrote: Colex 1H2017 revenue drops slightly. "The decrease from the waste disposal segment was mainly due to contracts renewed at lower rate and reduction in monthly refuse fees for the public waste collection segment as stipulated by National Environment Agency from 1 April 2017". This contradicts what NEA early announced - the monthly refuse fees increase 10% from Jan 2017.

http://www.nea.gov.sg/corporate-function...nuary-2017

Anyone knows why?

http://www.channelnewsasia.com/news/sing...ut-8769008

A review seems to be done in April 2017. But it was not announced. Maybe the rates from us to NEA remains. But the rates from NEA to Colex reduces since it only do most waste collection and not recycling.

Trying to do an indepth study... I could be wrong.
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