Wilton Resources Faces Audit Disclaimer Amid Financial Challenges

MT Newswires10-01

Wilton Resources (SGX:5F7) received a disclaimer of opinion from its independent auditors for the financial year ended Dec. 31, 2023, due to significant uncertainties regarding the group's ability to continue as a going concern, according to a Monday filing on the Singapore Exchange.

The group reported a net loss of 53.23 billion rupiah and a net operating cash outflow of 47.44 billion rupiah, with current liabilities exceeding current assets by 112.18 billion rupiah as of year-end.

The auditors expressed concerns over the carrying values of the group's assets, which depend on the assumption that the group will continue to operate normally.

They noted that the group's mine properties and related assets totaled 280.22 billion rupiah, 313.8 billion rupiah, and 36 billion rupiah, respectively.

However, the auditors could not verify the recoverable amounts due to the ongoing operational challenges.

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