Jurong Technologies (JTL) yesterday announced that it has receiveda letter from its auditors, Ernst & Young, regarding alleged irregularitiesin the administration of receivable financing facilities extended to thecompany. To verify such an allegation, JTL's audit committee hasimmediately commenced a fact-finding process. Over the weekend, the grouphas also appointed legal and financial advisers in relation to the mattersraised by the auditors. As we understand that the group is unable toprovide further updates during the investigation, we have decided to placeour BUY rating and S$0.10 fair value under review until we obtain furtherclarity. Meanwhile, we note that share price pressure is likely to weighdown the stock.