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14 Oct 2019 10:00
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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
     09 Oct: The Agriculture Minister says improving the performance of Fonterra is in everyone's interests
     08 Oct: Mercury's CEO is off to Fonterra
     08 Oct: A threat to meat and dairy farmers - and the national economy.
     02 Oct: Global dairy prices have risen slightly at Fonterra's latest overnight auction
     27 Sep: Shane Jones says Fonterra's executive needs to be pruned, as the dairy giant grapples with a 605-million-dollar loss
     26 Sep: Fonterra has announced it's closing a cheese plant in Paraparaumu
     26 Sep: Fonterra's being urged to put all its cards on the table
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     Today's News

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    Japan's set up a Brighton Miracle re-match with South Africa in the rugby World Cup quarter-finals 9:57

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    Kiwis forward Nelson Asofa-Solomona faces a spot of trouble in Bali 8:37

    Politics:
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    Environment:
    Fire crews have been keeping watch for flare-ups at an Auckland restaurant after a huge blaze 8:06

    Cricket:
    Australian test cricket all-rounder Mitch Marsh has injured his bowling hand after punching a dressing-room wall during Western Australia's Sheffield Shield draw with Tasmania 7:56

    Business:
    The markets have been given a boost by a partial trade deal between China and the United States 7:26

    Tennis:
    American Coco Gauff has become the youngest player to win a WTA tennis title in 15 years, with victory in the Linz Open 7:16

    Rugby:
    Japan has advanced to the rugby World Cup last eight for the first time, which has set up an All Blacks quarter-final against Ireland 7:06

    Entertainment:
    Kourtney Kardashian is convinced someone has been stealing money from her 6:39


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