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27 Jan 2021 4:47
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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.

    © 2021 Newstalk ZB, NZCity


     Other Rural News
     16 Dec: Some good news for farmers, in the last Global Dairy Trade auction before Christmas
     05 Dec: Fonterra farmers are grateful for an extra 20 thousand dollars coming their way when milk markets are so precarious
     04 Dec: Fonterra farmers will share an extra 300 million dollars from a lifted milk price...thanks to strong demand from China
     04 Dec: Fonterra is waiting on regulators to clear the sale of its Chinese farms
     04 Dec: A recovering China is lifting hopes that Fonterra will continue to piggy-back on growing milk demand
     04 Nov: Dairy farmers are looking ahead - both for the environment, and their farms
     21 Oct: A challenging year ahead for beef and sheep farmers
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