The share price of Sabuy Technology Public Company Limited (SET: SABUY) plunged 20% to THB 0.32 per share on Thursday after the Stock Exchange of Thailand (SET) disclosed a statement, recommending investors to study SABUY’s financial statements and monitor the company’s clarification.
In the statement, the Stock Exchange of Thailand (SET) disclosed that it requires SABUY to clarify information on the financial statements for the year ended 2024 , which the auditor issued an unqualified opinion with an emphasis of matters about:
(1) a loss of assets and inventory of 215 million Baht.
(2) the fair value assessment of the locker rental service business has not been completed (goodwill is 71% of the purchase value). The value may be adjusted in the future.
(3) material uncertainty of abilities to continue as going concerns since in 2024, SABUY incurred a loss of 6,238 million Baht (increased by 3,183%) and has accumulated deficits of 8,152 million Baht (increased by 1,003%).
Therefore, SABUY is required to clarify information through SET’s disclosure system by April 3, 2025 and disclose the opinions of the Board of Directors and Audit Committee by April 10, 2025. In addition, SET recommends the investors to study SABUY’s financial statements and monitor the company’s clarification.
