DEL MONTE PACIFIC LTD. (DMPL) said management’s assessment that the group can continue operating is supported by the performance of its Philippine business, continued access to revolving credit facilities, and ongoing debt restructuring efforts.
The company made the statement in a disclosure posted on the Philippine Stock Exchange (PSE) on Thursday in response to queries from Singapore Exchange Regulation (SGX RegCo), which asked management to explain its assessment of the group’s ability to continue operating as a going concern after it reported a net capital deficit of $589.9 million, net current liabilities of $787.2 million, and a cash balance of $8 million as of April 30.
The company…