Bangkok, April 29, 2016 ? The SEC has ordered AI Energy Public Company Limited (AIE) and its parent company Asian Insulators Public Company Limited (AI) to cooperate with their auditors for the audit of the companies? annual financial statements 2015 after the auditors had issued a disclaimer and expressed a qualified opinion on the said financial statements because the scope of the audit was limited by the companies? executives.

Both AIE and AI must submit the corrected and audited annual financial statements 2015 together with the corrected annual financial statements 2014 and the financial statements for the first, second and third quarters of 2015 to the SEC immediately.

The AIE auditor?s report contained a disclaimer of opinion on the profit and loss statement, the total profits and losses, the statement of equity change of the shareholders, and the annual cash flow statement 2015 due to inefficient internal control system with regard to the cost of sales and the inventory of 2014 and insufficient evidence to clarify decrease in the production yield.

The AIE auditor also expressed a qualified opinion on the statement of the financial position for the year 2015 because of failure to determine whether certain revised items were necessary and may have affected the comparison with such statement for the preceding year.  

The auditor?s disclaimer and qualified opinion on AIE?s financial statements caused the auditor of parent company AI to issue a disclaimer and express a qualified opinion on the consolidated financial statements for the year 2015 as well with regard to the same issues. 

The SEC therefore instructed AIE and AI to cooperate with their auditors by providing  information and documents satisfactorily, and submit the corrected and audited financial statements for the year 2015 to the SEC as soon as possible.

In addition, both companies must submit the corrected financial statements for the year 2014 as ordered earlier by the SEC in May 2015, but so far have failed to comply, and must submit the financial satements for the first, second and third quarters of 2015 simultaneously.

It is imperative that AIE and AI submit all of the aforesaid financial statements which have been audited and reviewed by their respective auditors promptly so that the investors and shareholders will be able to monitor the companies? operating results and financial statements and use such material information for investment decision making.