SEOUL, May 12 (Korea Bizwire) — Daewoo Shipbuilding & Marine Engineering Co., a troubled shipbuilder here, changed its incorrect financial statements from 2008 to the first quarter of 2016 on Thursday, it said. Its operating profit and loss in 2012 was revised from a 486.2 billion won (US$430 million) surplus to a 72 billion won [...]
SEOUL, Apr. 6 (Korea Bizwire) — South Korea’s financial regulator on Wednesday confirmed a one-year suspension of new audits by Deloitte Anjin LLC, as punishment for the firm’s accounting irregularities of troubled Daewoo Shipbuilding & Marine Engineering Co. Until April 4 next year, Deloitte Anjin has been barred from signing new audit contracts, the Financial [...]
SEOUL, July 13 (Korea Bizwire) – The National Pension Service (NPS) announced on July 12 that it may file a damages suit against Daewoo Shipbuilding & Marine Engineering Co. (DSME), the country’s third-largest shipyard, due to its suspected accounting fraud. According to a prosecutorial investigation, DSME allegedly committed accounting fraud exceeding 5 trillion won ($4.36 billion) over [...]
SEOUL, June 20 (Korea Bizwire) – Last April, KDB Daewoo Securities purchased an A330 airplane which was used by Finnair by investing US$29 million and leased it back to the airliner in the form of purchase and lease back. It will also expand its investment into aircraft by signing an agreement with Novus Aviation Capital, Dubai’s aircraft [...]