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[Apha Biz=(Chicago) Reporter Paul Lee] On the 10th, Doosan Enerbility closed at 14,800 won, down 4.15%. Foreigners led the decline by selling a net KRW 8.8 billion worth of stocks.
Analysts say the uncertainty over the FSS supervision has weakened. After monitoring Doosan Enerbilitys from April 2021, the FSS sent a prior notice last month notifying the company of heavy punishment, including intentional and others, and put it on the agenda of the Financial Supervisory Commission, an accounting body under the Financial Services Commission.
The Financial Supervisory Service judged that Doosan Enerbility did not handle losses from rising costs in a timely manner in connection with the construction of thermal power plants won in India at the end of 2016. However, Doosan Enerbility said that it properly handled the accounting in accordance with the accounting standards at the time when the profit or loss was confirmed, reflecting the results of the consultation with the client to share the responsibility for the cost increase.
The Board of Supervisors will complete the deliberation as early as next month and decide on the level of disciplinary action for Doosan Enerbility's violation of accounting standards.
The Doosan Enerbility fell 52% from its peak in June 2021. This year's operating profit consensus (average forecast) is 1.8038 trillion won, up 63% from the previous year.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
