SGX RegCo orders Nutryfarm International to appoint independent reviewer to conduct investigation
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Singapore
SINGAPORE Exchange Regulation (SGX RegCo) has ordered Nutryfarm International, through a notice of compliance, to appoint a suitable independent reviewer to conduct an investigation over two key issues.
The first is regarding a significant refundable deposit of HK$91.4 million (S$15.8 million) made in relation to the proposed acquisition of tech company First Linkage, and the second is the significant advances of 26.81 million yuan (S$5.58 million) made to Chengdu Meili Tianyuan Agriculture Co (MLTY), the associate of two of NutryFarm (Chengdu) Biomedicine's (NFC) customers.
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