TT International's independent auditors announced on Friday night that the existence of material uncertainties may cast significant doubt about the group's ability to continue as a going concern.
For one, the consumer electronics retailer incurred a net loss of S$207.8 million for the year ended March 31 2018, compared to a loss of S$90.99 million in 2017. As at March 31 last year, the group's total liabilities have exceeded its total assets by S$347.71 million.
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