Link: https://links.sgx.com/1.0.0/corporate-announcements/8LVSP6X74V0XC8LX/c5c1d1f1f0828c14a049ba284c2241c2e0ba25caa18370e6beb430cddf8eaee1

Summary:

• Auditor's Statement: The Independent Auditors, Foo Kon Tan LLP, included a material uncertainty related to going concern in their report on the Group's audited financial statements for the year ended December 31, 2024. The audit opinion remains unmodified regarding this matter.​

• Board's Position: The Board believes the Group can continue as a going concern due to:​

  • Ongoing cost-reduction strategies at the head office and a subsidiary.​

  • A revised payment plan with the Royal Malaysian Customs Department, extending the repayment period by four months with an additional RM48,000 ($13,000) in total payments.​

  • Legal actions initiated in January and March 2025 to recover outstanding amounts related to irregularities in Gainhealth Pte Ltd.​

  • An undertaking from a controlling shareholder to provide financial support for the Company and Group to meet liabilities and operating expenses over the next twelve months.​

• Cautionary Note: Shareholders and potential investors are advised to exercise caution when trading the Company's shares and to consult professional advisors if in doubt.​

Note: All data is sourced from Meta Health Limited's announcement titled "Material Uncertainty Related to Going Concern on the Audited Financial Statements for the Financial Year Ended 31 December 2024."