Bangkok, May 27, 2014 ? The SEC notified Shun Thai Rubber Gloves Industry Plc. (STHAI) to rectify its 2012 financial statements due to limitation on scope of audit imposed by the company management. STHAI then must submit to the SEC and publicly disclose the rectified and audited financial statements by June 26, 2014.

The SEC found that the auditor was unable to express opinion on such financial statements due to limitation on scope of audit imposed by the STHAI management in various matters including quantities and unit prices of inventories, allowance for decline in value of inventories, and impairment of assets. In addition, the auditor was unable to use other means to obtain sufficient appropriate audit evidence on the matters.

The SEC therefore instructed STHAI to rectify 2012 financial statements, cooperate and satisfy the auditor of supporting information and documents, and then submit to the SEC and publicly disclose the rectified and audited financial statements by June 26, 2014.