New chairman's 18 lawsuits in China are a non-issue: Nutryfarm

Singapore

NUTRYFARM International said it is satisfied with Wu Yongqiang's character and integrity for him to be appointed as the company's new executive chairman even though he is involved in 18 civil suits in China as the company has assessed that these cases are commercial in nature.

The mainboard-listed durian and health foods distributor said in a filing on the Singapore Exchange (SGX) on Tuesday (Mar 15) that the company's nominating committee has reviewed each of the civil suits, along with an opinion report from Guangdong Guanghe law firm, and has assessed that they do not involve fraud, dishonesty, misrepresentation, misconduct or mismanagement on the part of Wu.