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Camsing Healthcare's chairman in Chinese police custody
MAINBOARD-LISTED Camsing Healthcare Ltd's chairman and executive director Lo Ching is being held in criminal custody in China, the company said in a Singapore Exchange (SGX) filing.
It was made aware on July 5 that Ms Lo was being held by the Yangpu Branch of the Shanghai Public Security Bureau, and that the board was unable to ascertain the reasons or incidents that led to her arrest, said Camsing Healthcare.
Normal business operations and functions of the board remain stable and have not been materially and adversely affected by her arrest, it added.
Ms Lo is also the chairman of Hong Kong-listed Camsing International Holding Ltd, whose shares tumbled a record 90 per cent on Monday morning after the company announced, on Friday night, her arrest.
In a filing in April, three former Camsing Healthcare independent directors said, in an explanation of why they resigned, that management did not take audit matters and corporate governance seriously.
Camsing Healthcare's shares have been suspended since April 1 following a trading halt on March 22.