Briefs

The Securities and Exchange Commission has extended the deadline for submitting the special audit report of KC Property Public Company Ltd (KC) to March 8.
Earlier, the SEC ordered KC to have a special audit on the internal control system concerning the issuance of bills of exchanges, related receipt and payment transactions, and accounting records practice. The company was also required to examine the issue raised by the auditor whether the questionable transactions of land sales and purchases were in line with the normal course of business operation. 
Concurrently, the SEC instructed the company to amend the annual financial statements for the year 2015 and the interim financial statements for the third quarter of 2016, which had failed to present correct information on the liabilities incurred from the bills of exchange issuance. 
The initial deadline for submitting the special audit report and the amended financial statements was February 6. 
KC requested an extension to the deadline of the special audit report to allow more time to complete the examination and review of all related numerous documents and information. 
The SEC granted a 30-day extension. KC must also disclose the amended financial statements and the results of the special audit via the SET Electronic Information System within the extended deadline. – The Nation

1.3 MILLION PATENTS FILED IN CHINA LAST YEAR 

More than 1.3 million patent applications for new inventions were filed in China last year, the most of any country in the world for the sixth year in a row, according to the State Intellectual property Office (SIPO).
The number of patent applications submitted in China increased 21.5 per cent from last year.
Around 404,000 patents were issued by SIPO in 2016, 302,000, of which were related to domestic inventions.
State Grid Corp of China, the nation’s electrical power giant, scored the most patents with 4,146 to its name.
Huawei Technologies Co Ltd submitted 4,906 patent ap-|plications last year, the most of all mainland companies, and was granted 2,690. – China Daily