It is a very comprehensive and detailed response. I doubt that it was done in one go. ASX retained the right to review prior to publishing in full - so they probably have reviewed and amended at least once, dragging it out a bit. ASX also retained the right to impose an immediate trading halt in the absence of a timely reply - and did not - suggesting some to and fro/ a work in progress, circumventing anything close to such action.
Motive? Some one/people trying to rock the boat still or oscillate the share price? It reeks a bit of desperation/manipulation, that's for sure.
Well it's backfired imo. It has given EWC the most irrefutable mechanism to again convey its message and (subtly) reinforce their contention that the Sengkang forestry issue is close to being resolved and that their plans are falling in to place as expected (and reported). The EWC auditors have been very careful for a number of years now, knowing there has been a lot of heat being applied to the company in trying to burn it. They've been through EWC with a fine tooth comb and continue to support their claims. The qualification is as it should be - it reflects the circumstances - but the fact that they've backed up year after year, even with this level of scrutiny, suggests there is no malfeasance on the part of any of the directors, let alone the board.
EWC Price at posting:
7.1¢ Sentiment: Hold Disclosure: Held
