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SINGAPORE \u2013 Catalist-listed Food Innovators reported on Nov 9 that an employee might have misappropriated $35,000 from a wholly owned subsidiary and $324,000 from two clients.<\/p>\n
In a bourse filing, the group said it has been alerted to a potential embezzlement of funds belonging to its unit F Innovators Singapore and two unidentified companies that this subsidiary provides services to.<\/p>\n
Food Innovators did not provide the name or position of the employee.<\/p>\n
As at Nov 9, a total of $359,000 was suspected to have been misappropriated based on preliminary investigations.<\/p>\n
But this is not expected to have a material impact on the group\u2019s financial position or results for FY2026 ended Feb 28, 2026, or FY2027, Food Innovators said.<\/p>\n
This initial assessment may be revised depending on the progress and outcome of the investigations, said the group, which operates real estate subleasing and restaurant businesses.<\/p>\n
Meanwhile, the company is appointing advisers and evaluating its legal options.<\/p>\n
Food Innovators shares closed unchanged at 17.5 cents on Nov 6. The market was closed on Nov 9 because of the Deepavali public holiday. THE BUSINESS TIMES<\/span><\/a><\/p>\n<\/div>\n SINGAPORE \u2013 Catalist-listed Food Innovators reported on Nov 9 that an employee might have misappropriated $35,000 from a wholly owned subsidiary and $324,000 from two…<\/p>\n","protected":false},"author":1,"featured_media":98538,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[2611],"tags":[],"class_list":["post-98537","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-buzz-headlines","wpcat-2611-id"],"_links":{"self":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/posts\/98537","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=98537"}],"version-history":[{"count":0,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/posts\/98537\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/media\/98538"}],"wp:attachment":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=98537"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=98537"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=98537"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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