Yangzijiang/ SIIC

Yangzijiang/ SIIC: Chairman of Yangzijiang Shipbuilding, Ren Yuanlin, has been reported to the stock authorities in China over several illegal activities conducted, including insider trading, misrepresentation, infringement of the independent operation of a listed company, illegal access to shares of listed company, manipulation of stock price and interference in the truthful disclosure of regular report. The report was filed by Tianjin Guoheng Railway Holding (China-listed), which is currently suspended due to the investigation. http://www.sinoshipnews.com/News/Rail-company-calls-for-investigation-into-shipbuilding-tycoon-Ren-Yuanlin/3w3c2686.html Ren's investment vehicle, Newyard Worldwide Holdings, also has stakes in Ione Holdings (982 HK) and SIIC Environment. Do note that these counters may be subjected to short-selling pressure in the near term on the negative news.