Asia
Hydrotek Addresses SET Queries on Going Concern, Phuket Projects
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.
BKK:HYDRO
