China International discloses lapse in internal controls in share buybacks

Singapore

WATER services company China International on Thursday said that there has been "regrettably" a lapse in internal controls in conducting its various share buybacks from Dec 21, 2017 to Oct 16, 2018, which led the company to inadvertently breach listing rules of the Singapore Exchange (SGX).

The board has since conducted a review of its internal control policies and taken rectification measures to ensure that similar breaches will not occur again, it said.