Bangkok, December 17, 2014 ? The SEC notified Asset Bright Plc. (ABC) to rectify its Q3/2014 financial statements. ABC has to file with the SEC and publicly disclose the reviewed financial statements by January 16, 2015.

ABC ceased its garment business operation and did not utilize its land and building previously used for such business.  In this year, ABC sold the assets and transferred revaluation surplus to gain on sale of the assets presented in the income statement.

The transfer was, however, not complied with the accounting standards stating that the revaluation surplus has to be transferred directly to retained earnings when the asset is retired.

The SEC thus instructed ABC to rectify such financial statements, and submit to the SEC and publicly disclose the reviewed financial statements by January 16, 2015.