March 7 (Reuters) - Australia's ASIC:
- EMECO WRITES DOWN VALUE OF A TRADE RECEIVABLE AND IMPROVES BUSINESS RISK DISCLOSURE FOLLOWING INQUIRIES BY ASIC
- EMECO RECOGNISED A A$22.9 MILLION EXPENSE TO A SPECIFIC EXPECTED CREDIT LOSS ALLOWANCE IN HY ENDED 31 DEC 2022
- RAISED CONCERNS ABOUT RECOVERABILITY OF SPECIFIC TRADE RECEIVABLE BALANCE, INCLUDING WHETHER EMECO APPROPRIATELY ASSESSED ANY CREDIT RISK
- ASIC ALSO RAISED CONCERNS ABOUT QUALITY OF DISCLOSURE OF BUSINESS RISKS IN OPERATING AND FINANCIAL REVIEW
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News: EHL ASIC Says Emeco Wrote Down Value Of A Trade Receivable After ASIC Inquiries
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