The Thailand Securities and Exchange Commission has notified NR Instant Produce Public Company Limited (NRF) to rectify its revised financial statements for the year 2024, the first quarter of 2025 and the second quarter of 2025, obtain an audit and review by its auditor, and resubmit the rectified statements to the SEC. NRF must also make simultaneous public disclosure via the Stock Exchange of Thailand’s SETLink system by 18 December 2025. The notification follows the auditor’s qualified opinion on the revised statements, linked to unresolved inventory count differences at subsidiary Botany Petcare Co., Ltd., including the inability to determine the monetary impact on inventories, cost of sales and related accounts due to incomplete reconciliation and the absence of updated unit costs reflecting actual costs. While NRF adjusted differences between physical counts and book balances, the SEC identified non-compliance with Thai Financial Reporting Standards where certain finished and semi-finished goods were valued using standard cost rather than actual cost, and the Group recorded all differences to cost of sales without allocation to finished goods, using unit costs from pre-adjustment system data. Alongside filing the rectified, audited and reviewed statements, NRF must disclose related information in accordance with Section 56 of the Securities and Exchange Act B.E. 2535 (1992), and publish the rectified financial statements and the rectification report via SETLink by 18 December 2025.

Original source View in tracker