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Mounting losses for Abit

By Derek Sooman

On July 4, 2005, 1:07 PM

Things are still looking pretty shady for Abit on the profit side of things; the company has revised its pre-tax losses for its 2004 operations from NT$4.48 billion to NT$5.3 billion, and also recorded a pre-tax loss of NT$878 million for the first quarter.

The company filing stated that Abit’s turnover of NT$14.068 billion from its partnership with Kobian India did not follow Taiwan accounting rules and could not be counted in its financial statements, which was the reason for the adjustment of last year’s pre-tax profits.

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