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NewOcean appoints Crowe as new auditors; replaces Deloitte Touche Tohmatsu

24 May 2021

Hong Kong-listed NewOcean Energy Holdings Limited (NewOcean) on Friday (21 May) said it has appointed Crowe (HK) CPA Limited as its new auditors.

Deloitte Touche Tohmatsu has resigned as the auditor of the NewOcean with effect from 29 April 2021 as the company and Deloitte could not reach a consensus on estimated timetable to complete the audit for the year ended 31 December 2020.

“The Board has resolved, on the recommendation of the audit committee of the Company, to appoint Crowe as the new auditor of the Company, to fill the causal vacancy following the resignation of Deloitte and to hold office until the conclusion of the next annual general meeting of the Company,” it states.

The development has led to the board at NewOcean organising a Special General Meeting (SGM) to be held on 16 June.

“The Board believes that the completion of annual audit of the Group for year ended 31 December 2020 will not be affected if the proposed ordinary resolution to confirm the appointment of new auditor is duly passed by Shareholders at the SGM.”

Related: NewOcean creditor scheme meeting dates at courts now ‘unrealistic’; delayed till further notice
RelatedNewOcean auditors resign due to significant outstanding documents & information
Related: NewOcean revises creditor scheme meeting dates at Hong Kong, Bermuda Courts due to ‘substantial’ amendments
Related: NewOcean records USD 304.3 million loss, portion of SG bunkering business to remain
Related: NewOcean Energy issues USD 304.8 million net loss warning ahead of FY 2020 results
Related: NewOcean proposal to adjourn court scheme meeting approved by creditors
Related: NewOcean creditors meeting application granted by Supreme Court of Bermuda
Related: NewOcean planning creditors meeting, foundation of debt restructuring plan laid out
Related: NewOcean records USD 174 million 1H 2020 loss; Singapore bunkering business remains
Related: NewOcean Energy publishes profit warning to shareholders ahead of 1H 2020 results
Related: NewOcean Energy records 66% bunker sales jump to 4.5 million mt in FY 2019


Photo credit: NewOcean Energy Holdings Limited
Published: 24 May, 2021

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