The auditor expressed a qualified opinion on NRF’s interim financial statements for the third quarter of 2024 because the auditor was unable to obtain sufficient, appropriate audit evidence regarding the fair value measurement of the shares, both those settled by the buyer from the sale of the Group’s investment in a subsidiary and those originally held by the Group from the adjustment in value of the investment in the shares of the buyer at the same share price. The auditor has not been a...
Earlier, the SEC instructed CHARAN to cooperate with its auditor in reviewing the company’s interim financial statements for the first quarter of 2025, and to submit the rectified and reviewed interim financial statements to the SEC by 15 September 2025. CHARAN was also required to disclose these financial statements to the public via SETLink within the same deadline. The instruction was issued because the auditor was unable to obtain sufficient audit evidence to review the company’s firs...
Earlier, the SEC notified JKN to rectify the financial statements for the year 2023 and submit the rectified financial statements that have been audited by the auditor to the SEC and simultaneously report the disclosure of related information under Section 56 of the Securities and Exchange Act B.E. 2535 (1992) (SEA). Additionally, the rectified financial statements and the rectified reports must be disclosed publicly via SETLink by 11 July 2025*. Nevertheless, JKN made a request for an ex...
The SEC had an observation on the accounting of the change in NRF Group’s shareholding proportion in Kairous Asia Limited (KAL), which was resulted from the repayment of loan and accrued interest through KAL’s ordinary shares. It was initially treated as a business combination. However, the group of entities under KAL was established with the purpose for merging with another business (Special Purpose Acquisition Company or SPAC). As of the acquisition date, no merger with a target company has oc...
Earlier, the SEC notified NRF to rectify its financial statements for the year 2024 and Q1 of 2025 regarding the accounting of the change in the shareholding proportion in Kairous Asia Limited (KAL), which does not meet the definition of a business according to the relevant financial reporting standards, including the consideration of the impairment of assets related to Regeneration Capital Co., Ltd. (RCL), a subsidiary that is an indirect shareholder of KAL, in separate financial statements. Th...
Bangkok, 16 November 2017 ? The SEC has notified Pace Development Corporation Plc. (PACE) to clarify the assumptions used in the fair value measurement of its investment in Pace Project One Co., Ltd. (Pace One) and Pace Project Three Co., Ltd. (Pace Three) and submit to the SEC as well as publicly disclose the information within 14 days.PACE's auditor issued a disclaimer of conclusion on the consolidated statement of comprehensive income for Q2 and Q3/2017 on the basis that the auditor could not...
Bangkok, September 25, 2014 ? The SEC notified Jasmine International Plc. (JAS) to rectify its 2013 and Q2/2014 financial statements and then submit to the SEC as well as publicly disclose the rectified and audited/reviewed financial statements by October 27, 2014.The Supreme Court had reversed the decision of the Central Bankruptcy Court by rejecting the rehabilitation plan and canceling business rehabilitation order issued by the Central Bankruptcy Court. JAS later disclosed in its Q3/2013 not...
Bangkok, May 30, 2012 ? The SEC notified Thai Unique Coil Center Plc. (TUCC) to rectify its 2011 and Q1/2012 financial statements due to auditor?s disclaimer of opinion. Within June 29, 2012, TUCC must submit to the SEC and publicly disclose the rectified financial statements that have already been audited or reviewed by the auditor. This follows the SEC finding that the auditor was unable to express and did not express opinion on such financial statements indicating that the records of allowanc...
Bangkok, May 27, 2014 ? The SEC notified Shun Thai Rubber Gloves Industry Plc. (STHAI) to rectify its 2012 financial statements due to limitation on scope of audit imposed by the company management. STHAI then must submit to the SEC and publicly disclose the rectified and audited financial statements by June 26, 2014.The SEC found that the auditor was unable to express opinion on such financial statements due to limitation on scope of audit imposed by the STHAI management in various matters inc...
Bangkok, June 2, 2014 ? The SEC notified Professional Waste Technology (1999) Plc. (PRO) to rectify its Q1-3/2012 financial statements due to limitation on scope of review imposed by PRO management and adverse conclusion along with 2012 financial statements due to limitation on scope of audit imposed by its management. PRO is required to file with the SEC and publicly disclose the rectified and reviewed/audited financial statements by July 2, 2014.The SEC found that the auditor expressed the ad...