More details emerge of missing deposits as auditor reduces Panda Green’s 2019 losses
There was rare good news for the remaining independent shareholders of the state-controlled solar developer, as the overdue 2019 figures were finally published, with new auditor PwC shaving almost $15 million off a near-$540 million loss.
KPMG finds HK$12m of missing Panda Green deposits ended up in former CEO’s account
The stunning findings of an investigation by the auditor into RMB1,022 million paid by Panda Green for the right to develop solar projects which never materialized included confirmation by the former chief finance officer documents were drawn up after the fact.
