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SGX Singapore — Wed, 22 Feb 2012 06:55:32 +0000

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China Sky asks SGX for more info over police probe

SGX Singapore — Mon, 20 Feb 2012 13:44:38 +0000

SINGAPORE : Singapore-listed China Sky Chemical Fibre has requested for more information from the Singapore Exchange (SGX) in relation to the police probe into the company.

In a filing to the SGX, China Sky says it is "not aware of any such investigation and has requested the Exchange for more information concerning the investigation".

The company would like to know in particular if the investigations are connected to the earlier court summons which SGX had withdrawn to force China Sky to hire an external auditor or over "the Exchange's directive dated 16th November 2011".

In the November directive, SGX had directed China Sky to appoint a special auditor to investigate transactions between the company and its audit committee chairman, as well as a failed land acquisition in China - among other issues.

China Sky adds that SGX has declined to furnish the information requested on the basis that the matter is now under investigation.

The company was informed on Thursday (16 February) that it is under investigation by the Commercial Affairs Department over possible breaches of the Securities and Futures Act.

It now says that it will continue to "persuade the Exchange to be more transparent in its dealings with the company so that its stakeholders can be fully appraised of important developments concerning the company".

- CNA/ch

SGX: STI back above 3,000 mark

SGX Singapore — Fri, 17 Feb 2012 18:08:38 +0000

SOUTHEAST Asian stock markets pushed higher yesterday, gaining back some ground lost early in the week,

In Singapore, the benchmark Straits Times Index closed up 0.79 per cent, or 23.39 points, to 3,000.59.

Jardine Cycle and Carriage gained 1.25 per cent to S$49.62 and DBS Group, Southeast Asia's largest bank, advanced 1.75 per cent to S$13.94. Agencies

SGX: Easier on profit-taking

SGX Singapore — Thu, 16 Feb 2012 17:48:12 +0000

SHARES retreated from a six-month high yesterday as broad-based profit-taking was seen across most Southeast Asian markets, particularly in resources and materials stocks.

The Straits Times Index closed down 1.14 per cent, or 34.48 points, at 2,977.20.

Commodities trading house Noble Group fell 4.3 per cent after it hit a three-month high the previous session. Agencies

SGX: Easier on profit-taking

SGX Singapore — Thu, 16 Feb 2012 17:48:12 +0000

SHARES retreated from a six-month high yesterday as broad-based profit-taking was seen across most Southeast Asian markets, particularly in resources and materials stocks.

The Straits Times Index closed down 1.14 per cent, or 34.48 points, at 2,977.20.

Commodities trading house Noble Group fell 4.3 per cent after it hit a three-month high the previous session. Agencies

SGX: Easier on profit-taking

SGX Singapore — Thu, 16 Feb 2012 15:34:30 +0000

SHARES retreated from a six-month high yesterday as broad-based profit-taking was seen across most Southeast Asian markets, particularly in resources and materials stocks.

The Straits Times Index closed down 1.14 per cent, or 34.48 points, at 2,977.20.

Commodities trading house Noble Group fell 4.3 per cent after it hit a three-month high the previous session. Agencies

Singapore Investigates Potential Breaches Of Securities And Futures Act By Chinese Firm

SGX Singapore — Thu, 16 Feb 2012 13:52:35 +0000

February 16, 2012 22:07 PM

Singapore Investigates Potential Breaches Of Securities And Futures Act By Chinese Firm

By Tengku Noor Shamsiah Tengku Abdullah

SINGAPORE, Feb 16 (Bernama) -- The Monetary Authority of Singapore (MAS) has received a report from the Singapore Exchange (SGX) on potential breaches of the Securities and Futures Act, Cap. 289, by China Sky Chemical Fibre Co., Ltd, a Chinese nylon fiber maker and its directors.

This was disclosed in a joint statement issued by MAS and the Singapore Police Force (SPF) today.

MAS said it has referred the potential breaches to the Commercial Affairs Department, which is currently investigating the matter.

The statement did not specify the breaches or the directors who are being investigated.

Meanwhile, SGX, in its regulatory announcement, stated that the exchange's lawyers and China Sky Chemical Fibre Co's lawyer have met today.

SGX said the company's lawyer is seeking further instructions from the company, in light of its announcement on Jan 6, 2012, that "the company will continue to communicate with SGX to resolve the impasse expediently."

-- BERNAMA

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Singapore Investigates Potential Breaches Of Securities And Futures Act By Chinese Firm

SGX Singapore — Thu, 16 Feb 2012 13:43:59 +0000

February 16, 2012 22:07 PM

Singapore Investigates Potential Breaches Of Securities And Futures Act By Chinese Firm

By Tengku Noor Shamsiah Tengku Abdullah

This was disclosed in a joint statement issued by MAS and the Singapore Police Force (SPF) today.

MAS said it has referred the potential breaches to the Commercial Affairs Department, which is currently investigating the matter.

The statement did not specify the breaches or the directors who are being investigated.

Meanwhile, SGX, in its regulatory announcement, stated that the exchange's lawyers and China Sky Chemical Fibre Co's lawyer have met today.

-- BERNAMA

We provide (subscription-based)
news coverage in our Newswire service.

Singapore police investigates China Sky after SGX complaint

SGX Singapore — Thu, 16 Feb 2012 08:05:16 +0000

SINGAPORE, Feb 16 (Reuters) - China Sky Chemical Fibre

Co. Ltd, which has clashed repeatedly with the

Singapore Exchange over the appointment of a special

auditor, is under investigation for possible breaches of the

city-state's financial laws.

The Monetary Authority of Singapore (MAS) said in a joint

statement with the police on Thursday that Singapore Exchange

Ltd (SGX) sent them a report detailing potential

breaches of the Securities and Futures Act.

MAS said the breaches have been referred to the Commercial

Affairs Department, the police unit responsible for

investigating corporate crime.

Last month Singapore Exchange withdrew an application at the

city's high court to force China Sky to hire a special auditor

to probe its financial dealings. The textile manufacturer had

repeatedly refused to comply with the bourse's request for an

independent investigation into its affairs.

China Sky's shares have been suspended from trading since

November. Its chief executive Huang Zhong Xuan resigned earlier

this month due to health reasons.

(Reporting by Rachel Armstrong; Editing by Kevin Lim)

China Sky under police investigation after SGX report

SGX Singapore — Thu, 16 Feb 2012 05:45:31 +0000

The police are investigating alleged breaches of the law by beleaguered firm China Sky Chemical Fibre and its directors.

The Singapore Exchange (SGX) had reported the potential breaches of the Securities and Futures Act to the Monetary Authority of Singapore (MAS), which referred the matter to the Commercial Affairs Department.

The latest development, announced in a joint statement on Thursday by the MAS and the Singapore Police Force, is the latest saga to hit the troubled China-based company.

The company had been involved in a war of words with the SGX late last year after it refused to comply with a directive to arrange for a special auditor to probe its dealings.