China Fishery: UBS reckons the investigation should be related to trading of securities of the group companies instead of operations of the company.
While the outcome of investigation is unknown and there is no information on who in the company and the Pacific Andes are being investigated, major concerns are how the investigation and the outcome will affect the perception on its corporate governance, and its funding access going forward.
The company also disclosed that there is no loan covenant related to the chairmanship of Ng Joo Kwee.
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