FSL Trust warns of 'significant' loss; CEO quits after 'breach of duties' accusations
Singapore
SHARES of First Ship Lease (FSL) Trust were dealt a double whammy on Monday as it warned of a "significant net loss" for the financial year ended Dec 31 (FY2016) and announced the cessation of Alan Hatton as chief executive officer following a "show cause" notice over "potential misconduct" and "breach of duties".
The stock, which resumed trading following a trading halt on Friday, closed trading 11 per cent down at S$0.138 after falling as low as S$0.135. More than 2.3 million shares changed hands.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
AIA launches wealth centre targeting high-net-worth clients
Samba, Gazelle shoes help drive Adidas sales while North America lags
Bank of Japan upbeat on consumption, service price outlook
Brokers’ take: KGI initiates Winking Studios with ‘outperform’, S$0.34 target price
Delayed rate cuts expected to benefit Singapore banks’ otherwise uneventful Q1 earnings
Fast-fashion giant Shein wants to sell skincare, toothpaste and toys, too