Foreland Fabrictech may have lost control of subsidiary: directors

Singapore

FORELAND Fabrictech Holdings may have lost control over its wholly owned unit, Fulian Knitting Co, in China, it warned on Wednesday.

Former executive chairman Tsoi Kin Chit - who resigned in August 2016, and was publicly reprimanded by the Singapore Exchange (SGX) in November 2016 - has been "increasingly reluctant" to cooperate in matters relating to Fulian which he is effectively controlling, Foreland said in a filing to SGX.