Pacific Andes and China Fishery under investigation

Pacific Andes Resources Development and its subsidiary, China Fishery Group, are being investigated by the Monetary Authority of Singapore and white collar crime busters Commercial Affairs Department for an offence under the Securities and Futures Act.

In an announcement late on Thursday night, the group said it received the notice on Aug 18 requiring the firm to provide to both government agencies information and documents relating to its dealings with certain third parties - one of whom is its trading party - from Oct 1, 2011 till now.

Both agencies have also requested for information from Hong Kong-listed Pacific Andes International Holdings.

"The business and operations of the group are not affected by the investigations and will continue as normal," it said. "The company has extended and will continue to extend its full co-operation to the investigations and make such further announcements as required."