Shareholder approval was needed for disposal of Allied Tech's China subsidiaries, says SGX RegCo
Its statement comes after release of special audit report prepared by PwC
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Singapore
SHAREHOLDER approval should have been sought for Allied Technologies' disposal of its 2 China subsidiaries, the Singapore Exchange Regulation (SGX RegCo) said late on Wednesday (Apr 6).
Its statement came after the release of a special audit report prepared by special auditor PricewaterhouseCoopers Risk Services (PwC) - engaged to examine the developments surrounding Allied Tech's missing funds held in escrow by law firm JLC Advisors.
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