The Board of Directors of UOB-Kay Hian Holdings Limited wish to clarify as follow in response to SGX-ST's query on 20 May 2014 with regard to the Company's 1Q FY2014 financial results for the period ended 31 March 2014:
SGX Query
Please explain the reason(s) for the increase in Trade and Other Receivables (current and non-current) from S$1.466 million as at 31 March 2013 to S$1.699 million as at 31 March 2014 despite a decrease in revenue of 35.2% during the same period.
Company's Response
The increase is due to higher financing activities.
Submitted by Mr Esmond Choo, Senior Executive Director, on 22 May 2014
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