Friday, July 1, 2011

ChinaGaoxian

ChinaGaoxian: Still suspended. Special auditors have found cash balance was approx Rmb93m as of 31 Dec 2010 instead of Rmb1.1b ($189.9m) as stated on the fin statements. Bank liabilities were approx Rmb285m instead of Rmb157m. Investigations still underway for other areas and how shortfall of Rmb1b has been used. Counter has been suspended since 21 Mar 2011.

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