The Edge Singapore8d
eFishery was a valuation scandal, not accounting fraud
The outcome was an extravagant valuation that had no connection to fundamentals. Even with its fabricated revenue, eFishery was trading at an EV/Sales ratio of two times. Agri-processors such as Japfa ...
Business Times1d
Fraud-hit eFishery slashes over 1,000 jobs as company weighs liquidation
INDONESIAN aquatech unicorn eFishery is ramping up plans to axe employees as it struggles to manage the fallout from its ...
VN Express23d
Indonesia’s $1.4B startup allegedly falsifies most sales: report
EFishery, which provides automated feeders to fish and shrimp ... In response, the board initiated a formal investigation in December and subsequently removed co-founder and CEO Gibran Huzaifah after ...
scmp.com23d
Indonesia’s US$1.4 billion fish start-up faked most sales, report claims
EFishery Pte, one of Indonesia’s most prominent ... and dismissed co-founder and Chief Executive Officer Gibran Huzaifah after the accounting inconsistencies were discovered, the people said.
The Straits Times23d
Indonesian unicorn eFishery allegedly faked most of its sales
SINGAPORE – One of Indonesia’s most prominent start-ups, eFishery, may have inflated ... and dismissed co-founder and CEO Gibran Huzaifah after the accounting inconsistencies were discovered ...
Asia Asset Management8d
Fraud at Asian startups ignite concern about investing public funds in high-risk firms
FashionValet burst into the spotlight in November when Malaysian sovereign wealth fund Khazanah Nasional and Permodalan Nasional, the country’s largest fund management company, incurred a 43.9 million ...
Hosted on MSN22d
Indonesia’s $1.4B startup allegedly falsifies most sales: report
EFishery, which provides automated feeders ... in December and subsequently removed co-founder and CEO Gibran Huzaifah after uncovering discrepancies in the accounting, people familiar with ...