Darco Water

[CityFarmer]

I guess Darco isn't a S-chips, by "industrial" definition. If the company is a S-chip, the shareholders will dump its share and shout for "fraud, fraud " by now, and demand a "SGX regulation"...

(not vested, and never study this stock before)

Darco Water to reclassify cash position following review

SINGAPORE (Nov 28): Darco Water Technologies ( Financial Dashboard) says it has to reclassify its cash position after a recent review found that "significant" cash deposits at a wholly owned subsidiary are of a nature deemed as short-term investments.

These investments relate to structured deposits placed by its unit Shanghai Darco Engineering with a financial institution in China, Darco said in a regulatory filing.

Following the discovery, Darco will reclassify $3.55 million from its cash pile into available-for-sale short-term investments for FY2013.
...
http://www.theedgemarkets.com/sg/article...ing-review

[specuvestor]

It's not a material change lah... wrong example IMHO

[CityFarmer]

It's not a material change lah... wrong example IMHO

I agree nothing changes, but a reclassification. I am doing a wild guess, what will be the market response, if the same happen on S-Chips ...

[BRT]

i always appreciate such summaries. wish more co did things like these. like MM AGM minutes, megachem and their Q&As. thats why a part of me is happy when co im interested in get queried, as theyre forced to ans qns or elaborate on their biz.

SUMMARY OF SHAREHOLDERS’ FORUM
https://links.sgx.com/FileOpen/DWT-Ann-S...eID=590843

[¯|_(ツ)_/¯]

Darco Water @ 18

According to the whistle blower, the Executive Chairman of the Company had instructed the Head of Finance of WHKD to modify certain key financial figures in WHKD’s audited financial statements for the financial year ended 31 December 2019 (“FY2019”) (“Modified Accounts”) that had been signed off by WHKD’s statutory auditors, Crowe Shanghai (a member firm of Crowe Global), and to submit the Modified Accounts to a bank in China (the “Bank”) which has extended banking facilities to support the business and operations of WHKD (the “Banking Facilities”).

Currently as far as the Board is aware, only the Executive Chairman of the Company, Mr. Wang Yaoyu together with the Head of Finance of WHKD and a staff from the Finance Department (“Involved Personnel”) are involved in the misrepresentation and they have admitted the existence and submission of the Modified Accounts.
https://links.sgx.com/FileOpen/Darco-Ann...eID=672327

Stay home and stay safe, everyone.