TCL seeks extension for posting financials

A recent implementation of an enterprise resource planning programme has led to TCL seeking an extension on posting its financial statement for the year ending on December 31 2022.

In a material change notice sent to the TT Stock Exchange on Monday, TCL said it would not be able to comply with regulatory deadlines to post the financial statements.

“The company has sought an extension of the 90-day deadline for the filing and publication of TCL’s audited financial statement.

“(TCL) has also sought an extension of the 120-day deadline for filing and publishing the company’s annual report for they year ended December 31, 2022 until May 31 2023."

Responding to questions from Newsday, TCL said it had been working closely with auditors KPMG to align data processes with the new platform – System Applications and Products in Data Processing, or the SAP.

“Unfortunately this has taken longer than expected, but in the interest of absolute accuracy and clarity, we have insisted that the process is thorough, transparent and auditable.”

It assured that the TT Stock Exchange and stakeholders were notified in a timely manner according to the TTSE’s by-laws.