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DMX suspends stock trading after finding irregular accounting

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DMX Technologies has suspended trading of its stock after an investigation by legal counsel revealed "irregular accounting practices" at two of the IT solutions provider's subsidiaries in 2008 and 2009.

DMX Technologies has suspended trading of its stock after an investigation by legal counsel revealed "irregular accounting practices" at two of the IT solutions provider's subsidiaries in 2008 and 2009.

The company said it filed a report with the Hong Kong police on Monday.

DMX said it has asked the Singapore Exchange for further extensions of time to announce its 2014 financial statements and to hold its annual general meeting.

The company announced on Feb 9 that chief executive Jismyl Teo and chief financial officer Skip Tang were arrested by the Hong Kong police's Commercial Crime Bureau on Feb 3 and released on bail.

Trading of the stock has been halted since March 20.