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SGX rejects China Haida's request for more time to release FY2019 results
CHINA Haida's request for more time to release its FY2019 results has been rejected by the Singapore Exchange (SGX); the aluminium panel maker now has up to April 15 to do so.
SGX earlier gave the mainboard-listed company an extension of time to announce the results by April 11. However, China Haida later sought another 50 days - the request that was rejected by SGX.
Earlier this week, Singapore-headquartered China Haida had found out that that two bank accounts of its wholly owned subsidiary in China have been frozen following an interim court order issued by a Sichuan court. A third bank account has been restricted. China Haida has made enquiries with the China subsidiary's finance team, and obtained a copy of an interim court order dated last Nov 28, which is "seemingly relevant or connected to" the freezing of the two bank accounts.
Shares of the company, which is also on the SGX's watch-list, are suspended from trading.