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3 Jul 2020 4:28
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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.

    © 2020 Newstalk ZB, NZCity


     Other Rural News
     26 Jun: Manawatu dairy farmer Andrew Hoggard is the new president of Federated Farmers
     26 Jun: Former Zespri chairman Peter McBride will lead the boardroom of the country's largest company
     26 Jun: Fonterra is replacing its retiring chairman John Monaghan with Tauranga dairy farmer and kiwifruit grower Peter McBride
     24 Jun: The global demand for sheep milk is growing, and Kiwi farmers are responding
     23 Jun: Fonterra farmers who produce sustainable, high quality milk will soon be eligible for a new payment of up to 10 cents per kg of milksolids
     15 Jun: Dairy farmers aren't overly optimistic that a wide ranging milk payout will be narrowed
     03 Jun: Dairy farmers have agreed to again bankroll their industry organisation
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