MOL Global says CFO resigned for personal reasons

Reuters News
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Posted: Dec 01, 2014 9:10 AM

(Reuters) - Malaysian online payments company MOL Global Inc said Chief Financial Officer Allan Wong resigned last month for personal reasons, not because of any accounting or financial reporting issues.

Nasdaq-listed MOL Global said last month it would delay its third-quarter earnings report and announced Wong's departure at the same time, wiping out more than half of the company's market value.

MOL Global said on Monday that its revenue rose 5.6 percent from a year earlier to $14.5 million in the three months ended Sept. 30.

The company said it had delayed the results because of accounting errors at its new subsidiary in Vietnam.

(Reporting by Tanya Agrawal; Editing by Ted Kerr)