Oxley: Committed to providing shareholders, investors with regular disclosures

Published Mon, Nov 16, 2020 · 09:50 PM

I REFER to The Business Times' article written by Tay Peck Gek titled "Multiple lawsuits added up can be material so why does Oxley Holdings not disclose them?" published on Nov 10, 2020.

Your writer has taken the liberty to suggest that Oxley Holdings may not be in compliance with its disclosure obligations as a listed company.

We would like to specifically address a few inaccuracies in the said article:

1. The title of the article suggests that there is a need to add up all lawsuits to determine materiality for disclosure. This assumption is inconsistent with established principles of accounting and is misleading to readers. Based on the time period accounting principle, the…