ASIC watches Myer book value
The corporate regulator has publicly acknowledged that it approached troubled department store chain Myer about the $1 billion book value of its goodwill and brand name intangibles before its recent interim loss.
The retailer last week booked $524.5 million in impairments as it revealed a half-year loss of $476.22 million — its biggest loss in more than 100 years of operations.
The Australian Securities and Investments Commission today said in a statement it noted the decision by Myer last week to write down the value of its goodwill and brand name intangible assets by $515 million, in its financial report for the half-year ended January 27.
Read more here .....
https://www.theaustralian.com.au/bu...e/news-story/9585caea8a60abcb073bf4fa9b0d67a6
Obviously they were happy with the recent 'accounting' impairments etc etc .... as they took the matter no further
I'm sure they will continue to watch from the sidelines, but GH will most certainly keep his reputation in tact during this ordeal me thinks and take no chances ....
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