Sias raises concerns about issues at SunMoon

Singapore

THE Securities Investors Association (Singapore) (Sias) has raised concerns on a number of issues surrounding the restructuring and governance of fruit distributor SunMoon Food Co, citing concerns raised by minority shareholders.

In an open letter, Sias sought clarification from SunMoon management on: A dispute between SunMoon chairman Gary Loh and a group of creditors in 2014 and 2015; a planned investment in China-focused fruit distributor Harvest Season Singapore; interested party transactions that involve companies owned by Mr Loh and his wife; SunMoon's disposal of its dehydrated business; and Mr Loh's remuneration and benefits.