Debao Property Development applies for second extension to hold FY2017 AGM

DEBAO Property Development has submitted an application to the Singapore Exchange for a second extension to hold its annual general meeting (AGM) for the 2017 fiscal year.

On Friday, the Chinese real estate developer said that it has requested for an extension of three months to Sep 30 this year, instead of June 30, to hold the AGM.

One of the reasons for the extension is that the independent third-party audit firm appointed by the company will take about eight weeks to around mid-August to complete an independent review.

Debao said that it will make further announcements to update its shareholders on the outcome of the application.

The counter last traded at S$0.172 on June 18.