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Hydrotek Addresses SET Queries on Going Concern, Phuket Projects

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Hydrotek (BKK:HYDRO) provided additional information to the Thailand Stock Exchange following queries over its first-quarter financial statements, after its auditor flagged material uncertainty over the group's ability to continue as a going concern.

The Thai environmental engineering and construction firm said delayed collections from two suspended construction projects in Phuket led to overdue receivables and expected credit loss provisions. Meanwhile, a 150 million baht rental security deposit is under negotiation for a partial refund, according to a Friday Thailand Exchange filing.

Hydrotek said it is closely monitoring the projects and has implemented liquidity management measures to mitigate the impact on its cash flow and operations.

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