The SET urges investors to study NUSA's financial statements and follow up on the company's clarifications.

The SET asked NUSA to clarify the information in the financial statements for the first quarter of 2023 in which the auditor expressed a conditional opinion and remarks. Due to the complexity of the hotel seller's structure, including trademark rights and licenses. in germany which is an ongoing issue that the SET The company will clarify this time that there has been a change in the form and conditions of investment in the said hotel. Please clarify the information through the information dissemination system of the SET by July 25, 2023 and ask investors to study the financial statements of NUSA and Follow the company's clarification.

As Nusasiri Public Company Limited (NUSA) has submitted financial statements for the first quarter of the year 2023, in which the auditor expresses a qualified opinion and remarks. due to the complexity of the structure of hotel vendors Including trademark rights and various licenses. in germany The Company and its subsidiaries have changed the forms and conditions of hotel purchases many times. The auditor gave such opinions since the 2008 financial statements. 2021, which the Stock Exchange of Thailand Has asked the company to clarify additional information

For the 2021 financial statements and the 3rd quarter of 2022, especially regarding the acquisition of hotels in Germany SET In the process of requiring the company to clarify information through the SET system within July 25, 2023, with the following important items:

1. List of purchases of hotels in Germany

In January 2021, NUSA will acquire a hotel in Germany which is in the process of applying for a license.

In the financial statements of the 3rd quarter of 2022, it has been changed to buy shares instead. (Own the company whose assets are the aforementioned hotels) by paying a deposit of 624 million baht to the seller (84% of the purchase price does not exceed 740 million baht, depending on due diligence results).

However, in May 2023, the investment was changed to buying shares. (Anonymous) by canceling the original contract and agreed that the original seller returned the deposit within 2 years without interest. There is a condition that this transaction cannot be reviewed with certainty about the actual seller and cannot be concluded whether it is necessary to adjust the deposit for the purchase of the hotel and the said trademark rights. If adjustments are required, how will it affect the financial statements?

SET Please clarify the issue of changing the form and conditions of investment in the said hotel. The progress and time frame for completing due diligence. Why is the deposit not immediately refunded? and guidelines for the auditor to be able to review such transactions with confidence and be able to express their opinions on the financial statements unconditionally.

2. Transaction about More Money Entertainment Co., Ltd. July 2022 NUSA invests in More Money Entertainment Co., Ltd. (More Money) 30% (the other 50% shareholder is a subsidiary of Mor Return Public Company Limited (MORE) and deposited a deposit to More Money as a guarantee that the company will comply with the joint venture memorandum. Subsequently, the company canceled the joint venture. and sold More Money shares, having transferred the ownership of such shares to the buyer but have not received payment for the sale

In addition, More Money has requested an extension of the refund of the capital increase and the total deposit of 57.5 million baht for another 90 days (completed on July 29, 2023 and August 11, 2023, respectively).

SET Please clarify the reason for extending the refund of capital increase and deposit. Measures taken to obtain such refunds upon the extended deadline. Including the impact on the liquidity of the Group 76 Completed

3. The Group's ability to continue operations The auditor has remarked on the ability of the Group of Companies to continue operating as the Group has suffered continuous operating losses for many years and at the end of the first quarter of 2023, the Group had significant liabilities, namely creditors. Construction works of Nusa Legend Siam Co., Ltd. (Nusa Legend) totaling 1,723 million baht by the China International Economic and Trade Arbitration Commission has an award for the company to pay the debt of Nusa Legend. revoke the award of such dispute The Company is confident that it will not be considered an event of default on other debts of the Company.

SET Please clarify the progress of the dispute. Including the impact on the default on other debts of the company, such as debt, bonds, loans from financial institutions in tons because the above issues in items 1-3 may affect the financial position and liquidity of the company.

SET Therefore, he would like to know the opinions of the Board of Directors and the Audit Committee on the aforementioned impact and how it would be of the utmost benefit to the group of companies and shareholders.

SET Investors are requested to follow the company's clarification. Which can study information from the company's financial statements (for the year 2021 to the first quarter of the year 2023) Company clarification news on May 6, 2022 and February 9, 2023 .-Thai News Agency

Source: Thai News Agency