China Kangda Food says CEO uncontactable, other executive directors to cover duties

CHINESE food processing company China Kangda Food Company on Monday (Nov 27) announced that it is unable to contact its chairman and chief executive Fang Yu.

The company’s board of directors said it is not aware of any information which indicates that Fang’s unavailability is or might be related to the business or operations of the group which is “continuing normally”. 

The company did not specify when it lost contact with Fang, who is also an executive director. 

China Kangda’s board also said the other executive directors will continue to be responsible for the day-to-day management and operations of the company. The company will also make further announcements as and when appropriate. 

China Kangda had in late October received a winding-up petition filed by Hong Kong High Quality with the High Court of Hong Kong, over an alleged failure to repay loans of HK$39 million (S$6.8 million).

The Bermuda-incorporated company has a primary listing in Hong Kong, and a secondary listing on the mainboard of the Singapore Exchange (SGX).  

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China Kangda Food receives winding-up petition, said to owe HK$39 million

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Shares of China Kangda closed flat on Monday at S$0.029. SGX data indicated that the counter last traded in Singapore in September.