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China Sky seeks to resume trading on Thursday after 4-year suspension
CHINA Sky Chemical Fibre Co has asked for the four-year suspension on its shares to be lifted in time for trading on Thursday, citing the fulfilment of conditions laid out by Singapore Exchange.
The maker of fibres said it has met requirements laid out by the market regulator, including the appointment of Colin Ng & Partners as a compliance officer and BDO as its internal auditor, that will allow it to resume trading.
The counter was suspended in November 2011 amid investigations into a number of major transactions that included a botched purchase of land in Fujian, China. Former chief executive Huang Zhong Xuan has since been fined S$2.5 million for making misleading statements and failing to disclose information.