Bangkok: 29 Mar. – SET asks MILL to clarify financial statements for 2023 within 5 April 2024, warning investors to study financial statement information. Follow the company’s statement.

The Stock Exchange of Thailand (SET) has asked Millcon Steel Public Company Limited or MILL to clarify the information in the financial statements for the year 2023, which the auditor did not express an opinion on the financial statements. This is because there is a significant uncertainty regarding continued operations. The group had a loss of 941 million baht, with current liabilities higher than current assets. Loans from financial institutions were classified as short-term liabilities in the total amount of 11,385 million baht due to default on P/N payments, which MILL later explained that the credit line had been renewed. In addition, there was a significant increase in the list of receivables from related businesses. which has an allowance for credit losses totaling 170 million baht

The issues that the company would l
ike to clarify are as follows:

Solving liquidity problems and the ability to repay debts due within 2024

Reasons for the increase in transactions with related persons or businesses Summary of each item Reasons for setting aside allowance for credit losses of other debtors in 2023 in the amount of 170 million baht and guidelines for debt collection

Investment policy in joint ventures and associated companies Reason for setting allowance for impairment of such investment Monitoring and evaluating returns from investments in such investments

Summary of the main points of the lawsuit Guidelines for corrective action Including the consequences of not paying the said deposit.

In this regard, we ask MILL to clarify the information through the information dissemination system of the Stock Exchange by April 5, 2024 and we ask that investors study the financial statement of MILL and follow the company’s explanation. -516

Source: Thai News Agency