Earlier, the SEC notified NRF to rectify its financial statements for the year 2024 and Q1 of 2025 regarding the accounting of the change in the shareholding proportion in Kairous Asia Limited (KAL), which does not meet the definition of a business according to the relevant financial reporting standards, including the consideration of the impairment of assets related to Regeneration Capital Co., Ltd. (RCL), a subsidiary that is an indirect shareholder of KAL, in separate financial statements. The deadline for submitting the rectified financial statements is 30 June 2025. 

NRF later informed the SEC that the company and its auditors are reviewing several issues and need more time for data preparation and verification. NRF therefore requested a deadline extension of 60 days for the submission of the rectified financial statements. 

However, the SEC found that NRF has sufficient time to complete the rectification of the financial statements within the prescribed deadline. Since financial statements are essential information for investors and shareholders to make investment decisions and monitor listed company performance, the SEC concluded that there are insufficient grounds to grant the requested extension. Consequently, NRF must submit the rectified financial statements for the year 2024 and Q1 of 2025 to the SEC and publicly disclose them via SETLink without delay.