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China Taisan responds to SGX queries on its assets valuation, valuers certification
IN a Singapore Exchange (SGX) filing on Friday, China Taisan Technology Group Holdings responded to the bourse's queries regarding the valuation of its assets and the certification of its valuers.
The company which produces knitted performance fabrics in China, stated that the value for its machineries stands at 154.1 million yuan (S$31.65 million) in 2016, down from its 316.4 million yuan valuation in 2015. It added that the firm's valuation report will be made available at the company's registered address for shareholder's inspection for a period of three months.
Additionally, the firm clarified that professional partners hired to perform valuation for them are certified by the China Assets Appraisal Board and the Ministry of Finance PRC, but not the China Securities Regulatory Commission (CSRC), as the CSRC is not responsible for issuing qualification to its valuer.