 The Board of Directors of Del Monte Pacific Limited announced that the Philippine Stock Exchange (PSE) has suspended trading of the company’s shares due to an audit disclaimer in the FY2025 Annual Report. Such disclaimer pertains to the carrying values of the assets and liabilities of our U.S. subsidiary group, Del Monte Foods Holdings Limited, whose assets had been classified as “assets held for disposal” and presented as “discontinued operations.” The disclaimer arose from the auditors’ inability to obtain sufficient evidence on the recoverable values of these assets and related liabilities due to the ongoing U.S. Chapter 11 process. This audit disclaimer was separately disclosed in the company's announcement today entitled Disclaimer of Opinion by Independent Auditors on the Audited Financial Statements for the Financial Year Ended 30 April 2025 and Material Variances between the Unaudited Financial Statements and Audited Financial Statements for the Financial Year Ended 30 April 2025. However, Del Monte noted that the company had already fully impaired its investment and other assets in and relating to DMFHL.
While an audit disclaimer in the audited financials would constitute automatic ground for the PSE to suspend the trading of an issuer’s shares, the Singapore Exchange (SGX) does not have a similar policy. The company has respectfully filed a waiver request with the PSE to lift the suspension to consider the following circumstances: • The audit disclaimer pertains only to discontinued operations of the U.S. business for FY2025 ending 30 April 2025, which was then deconsolidated from the Company’s financial accounts effective 1 May 2025. • The consolidated financial statements of the continuing operations are unaffected and remain reliable. • The Company had already fully impaired its investment and other assets in and relating to DMFHL. • Residual risks have been fully disclosed. • SGX, where the Company’s primary listing is, has a different policy on the matter. |
PLACE YOUR ADS HERE Join and Subscribe to my Newsletter. It's FREE! ABOUT THE
BLOGGER 
Hi, I'm Ralph Gregore Masalihit! An RFP Graduate (Registered Financial Planner Institute - Philippines). A Personal Finance Advocate. An I.T. by Profession. An Investor. Business Minded. An Introvert. A Photography Enthusiast. A Travel and Personal Finance Blogger (Lakbay Diwa and Kuripot Pinoy). Currently, I'm working my way toward time and financial freedom. CONNECT
WITH ME Follow me on FACEBOOK x PLACE YOUR ADS HERE PLACE YOUR ADS HERE Categories
All
Archives
October 2025
|
