Yangzijiang Financial Holding aims for CPF investment decision by mid-May: Board

MAINBOARD-LISTED Yangzijiang Financial Holding (YZJFH) hopes to have a decision by mid-May on whether Central Provident Fund (CPF) account funds can be used to buy its shares, the board said in an update on Wednesday night (May 4).

Parent company Yangzijiang Shipbuilding , which spun off its investment arm in April, had earlier announced that shareholders who invested with CPF funds could have their YZJFH share entitlements credited to their agent banks under the CPF Investment Scheme (CPFIS).

The YZJFH board has now said that it has applied for its shares to be included under the CPFIS and "it is envisaged that the outcome of the application will be known by the end of next week".

"Subject to and upon approval of the application, shareholders will be able to use their CPF funds to purchase shares traded on the Mainboard," the board said in its announcement, adding that it "regrets any inconvenience caused to the shareholders by the pending application".

YZJFH shares shed S$0.08 or 14.68 per cent to S$0.465 on Wednesday, with more than 114.6 million shares changing hands, before a trading halt was called at 1.50pm.

The counter made its trading debut at S$0.69 on Apr 28.