Bangkok, June 9, 2015 ? The SEC notified Electronics Industry Plc. (EIC) to cooperate with the auditor in auditing and reviewing its 2014 and Q1/2015 financial statements where the auditor expressed qualified opinions due to limitation on scope of audit imposed by the company management. EIC must submit to the SEC and publicly disclose the rectified and audited/reviewed financial statements urgently. The SEC found that the auditor gave qualified opinions on EIC?s 2014 and Q1/2015 financial stat...
Bangkok, September 1, 2014 ? The SEC notified Vintage Engineering Plc. (VTE) to rectify its Q2/2014 financial statements due to auditor?s qualified opinion arising from scope restriction. VTE is then required to file with the SEC and publicly disclose the rectified and reviewed financial statements by October 28, 2014.The SEC found that the auditor gave qualified opinions on VTE?s Q2/2014 financial statements due to auditor?s limitation scope of review by VTE management. As such, the auditor was...
Bangkok, April 8, 2015 ? The SEC notified Thai Industrial & Engineering Service Plc. (TIES) to rectify its 2014 financial statements. TIES has to file with the SEC and publicly disclose its rectified and audited financial statements by May 8, 2015.The SEC found that the auditor gave a qualified opinion on TIES?s 2014 financial statements in relation to the construction cost reports for construction contracts not prepared in accordance with its accounting policy. Besides, the accounting system a...
Bangkok, December 17, 2014 ? The SEC notified Asset Bright Plc. (ABC) to rectify its Q3/2014 financial statements. ABC has to file with the SEC and publicly disclose the reviewed financial statements by January 16, 2015.ABC ceased its garment business operation and did not utilize its land and building previously used for such business. In this year, ABC sold the assets and transferred revaluation surplus to gain on sale of the assets presented in the income statement. The transfer was, however...
The SEC had an observation on the reasonableness and appropriateness of the assumptions used in calculating the recoverable amount for considering the impairment loss of assets as related to Cannabiz way Co., Ltd and CBD Bioscience Co., Ltd that would impact on the consolidated financial statements and the separate financial statements. Therefore, the SEC has notified EE (1) to review and adjust the assumptions for cash flows projections of those subsidiaries to calculate the recoverable...
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...