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Sinopipe in talks with potential investor in China

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SINOPIPE Holdings Limited disclosed on Wednesday that its management has been negotiating with an interested investor in China to restructure its operations.

SINOPIPE Holdings Limited disclosed on Wednesday that its management has been negotiating with an interested investor in China to restructure its operations.

The regulatory filing with the Singapore Exchange did not provide further details, except to say that "the company will provide further updates on the outcome of the negotiation with the potential investor in due course".

Trading in the shares of Sinopipe has been suspended since April 2, 2012.

The group's former chief executive, Pu Weidong, was rapped for insider trading in shares of a separate company.

The Monetary Authority of Singapore (MAS) had in May taken civil penalty action against Mr Pu and Triumpus Assets Management Pte Ltd for insider trading in the shares of Sinomem Technology.