Pacific Andes & China Fishery: (S$0.142) Under investigation for regulatory breach
Both Pacific Andes and subsidiary China Fishery will resume trading today after a two-day trading halt.
The companies have disclosed that they are under investigation by the Monetary Authority of Singapore and Commercial Affairs Department for an offence under the Securities and Futures Act.
In addition to Pacific Andes and China Fishery, parent company HK-listed Pacific Andes International Holdings, have received notices from the authorities to provide information and documents relating to dealings with certain third parties from Oct '11 till date.
Nevertheless, the group stated that business operations will not be affected and will continue as usual.
Share price for the counters are expected to fall on the back of the uncertainties. As a gauge, the NAV/share of Pacific Andes and China Fishery stood at HK$1.45 ($0.26) and US$0.39 ($0.55), respectively.
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