Sincap unit's ex-employee arrested in China for alleged fraud
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
CHINESE mining and commodity trading firm Sincap Group said on Tuesday morning that a former employee of its subsidiary, Shandong Luneng Taishan Mining Co, has been arrested for alleged misappropriation of one million yuan (S$220,000) from the company.
The fraud is said to have been committed in May 2009. Investigations by the police are now under way, and the company will provide shareholders with more information once it receives further updates, it added.
Luneng Taishan Mining is 98.69 per cent owned by Sincap Group, a Catalist-listed stock.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Air India asks Tata, Singapore Airlines for funds after US$2.4 billion loss
‘Boring’ is the new black: The stars are aligning for a Singapore stock market revival
From 1MDB to ‘corporate mafia’: Is Malaysia facing a new governance test?
South-east Asian markets account for 8.8% of global capital inflows from 2021 to 2024: report
