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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (62037)	3/14/2002 12:21:22 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Daewoo Electronics, 21 Other Firms Face Delisting on Accounting By Sangim Han 03/13 21:36 quote.bloomberg.com Seoul, March 14 (Bloomberg) -- Daewoo Electronics Co. and 21 other companies may be expelled from the Korean stock exchange as early as next month, leaving shareholders high and dry -- and only their accountants can save them. Starting April 1, the exchange will delist companies that can't get an auditor to sign off on their accounts. In the past, companies had one year's grace to put their books in order. Daewoo Electronic shares tumbled 26 percent in the past two days on concern the company may be delisted. ``There will be the first-ever exit of a bunch of companies for poor bookkeeping,'' said Choi Sil Guen, director of the exchange's monitoring department. ``That may be hard for their shareholders to accept, but it's one way of clearing up doubts over many listed companies.''