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Can insolvent Dormant Company be Exempted from Preparing Financial Statements?

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Can insolvent Dormant Company be Exempted from Preparing Financial Statements?

Yes, if the dormant company is unlisted, is not a subsidiary or a listed company, and the company’s total assets is not more than S$500,000, the company is exempted from preparing financial statements (FS) even if it is insolvent.

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