Meta Health (SGX:5DX) said its board proposed changing the company's auditors, according to a filing with the Singapore Exchange on Tuesday.
The company plans to hire CLA Global TS to replace its long-time auditor Foo Kon Tan.
The company said it was changing auditors as a matter of "good corporate governance," in addition to "benchmark its audit fees and realize cost efficiencies."
Shares of the company fell nearly 17% in Wednesday trading.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.