News | Rural
9 Dec 2019 8:04
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  •   Home > News > Rural

    The Financial Markets Authority wants to see Fonterra's books

    The Financial Markets Authority wants to see Fonterra's books


    Fonterra
    Fonterra
    The FMA has confirmed to the Herald it's seeking information over concerns about the cooperative's shock asset write downs announcement and 2019 year financial statements.

    Last month, Fonterra announced that write downs would plunge the dairy giant into a loss of up to 675 million dollars.

    Fonterra's largest farmer-shareholder Colin Armer has made a formal complaint to the regulator about Fonterra's accounts.

    He says there have been inconsistent valuation methods for the carrying values of Chinese investment Beingmate and China Farms.

    © 2019 Newstalk ZB, NZCity


     Other Rural News
     04 Dec: Dairy prices have fallen for the first time in three months
     20 Nov: Global dairy prices have risen 1.7 percent at Fonterra's latest overnight auction
     15 Nov: Fonterra's human resources manager has resigned after less than a year in the job
     06 Nov: Global dairy prices have risen 3.7-percent at Fonterra's latest overnight auction
     22 Oct: Good news for farmers from Fonterra this morning
     18 Oct: Trouble at Fonterra, but not of the financial kind this time
     17 Oct: Emergency services are trying to establish what caused a chemical explosion at a Fonterra plant north of Whangarei
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