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Changjiang Fertilizer CFO resigns

Friday, November 13, 2015 - 08:59

BARELY two months after the departure of its chief executive officer, Changjiang Fertilizer Holdings reported on Friday that its chief financial officer, Kelvin Ho, has also resigned.

Mr Ho, 39, who became the CFO of the China fertiliser company in July last year, is said to have tendered his resignation to "pursue other career options''. He was responsible for the group's accounting and financial functions.

Mr Ho's resignation follows the resignation of Soh Chun Bin, 41, Changjiang's CEO, who left the troubled company at the end of September 2015, also to "pursue other career options''.

In February this year, Changjiang announced that the executive chairman and executive director, Cai Jian Hua, was taking a leave of absence from his duties for six months, from March 1, 2015 to September 1, 2015, to sort out his personal matters.

The company has been classified as a cash company since April 14, 2015. Trading in its securities has been suspended until Changjiang has a business which is able to satisfy the Singapore Exchange's requirements for a new listing.

Changjiang said it was considering various options and would be actively pursuing the acquisition of new operating businesses and assets with proven track record and/or good growth potential.

Its cash and bank balances at end of Sept 30, 2015, stood at 6,000 yuan (S$1,340), compared with 6.6 million yuan a year ago.