Bangkok--25 Mar--SEC
The SEC is seeking public comment on proposed regulatory revision governing preparation of financial statements of holding company applying to offer for sale of newly issued securities. The proposal aims to accommodate a new holding company established as a result of shareholding and business restructure. The newly established holding company is therefore unable to preparethe most recent annual and quarterly financial statements as required underthe existing regulations.
To eliminate the said obstacle, the SEC proposed to relax securities offering rule to allow the newly established holding company, which owns subsidiary with a certain period of time in business operation, to use a pro forma annual consolidated financial statement prepared as if the holding company has been founded at the beginning of the most recent accounting period and the latest quarterly financial statement, providing further that such financial statements must conform to the accounting standards and assured by SEC-approved auditor.
The consultation paper is available on the SEC website at www.sec.or.th. Stakeholders and interested parties from the public are welcome to submit comments through the website, through the phone number 0-2263-6112, or email to
[email protected] until April 4, 2013.