Foreland FabriT - Response to SGX Queries::
Announcement Type: Response to SGX Queries
Company: FORELAND FABRICTECH HLDS LTD
Stock Code/Name: B0I - Foreland FabriT
Company: FORELAND FABRICTECH HLDS LTD
Stock Code/Name: B0I - Foreland FabriT
| Response to SGX Queries:: |
| Issuer & Securities |
| Issuer/ Manager | FORELAND FABRICTECH HLDS LTD |
| Securities | FORELAND FABRICTECH HLDS LTD - BMG3658Z1041 - B0I |
| Announcement Details |
| Announcement Title | Response to SGX Queries |
| Date & Time of Broadcast | 23-Apr-2014 00:31:44 |
| Status | New |
| Supplementary Title | On Other Announcements |
| Announcement Reference | SG140423OTHRKF1L |
| Submitted By (Co./ Ind. Name) | Tsoi Kin Chit |
| Designation | Executive Chairman |
| Description (Please provide a detailed description of the change in the box below) | Please refer to the attached. |
| Attachments |
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Dear auditor, directors, shareholders and officer:
ReplyDeleteRegarding to the Company announcement on May 6th, 2014 through SGX website about RMB275,284,800 claims by customer Jiangxi Longdu, China, the announcement is doubtful in compliance with the SGX requirement of one third of Board composed by independent Director(s) to validate the Board approval.
In addition, the validity of Sale & Purchase Agreement between Fulian Knitting and Jiangxi Longdu is in doubt either in compliance with SGX risk management requirement as the imposed liability and risk, which is way beyond the authority of any Company Executive, any individual Director and any substantial shareholder, who has the conflict of interest, without prior SGX announcement to all shareholders before signing this S&P Agreement, are more than 60% of the Company Net Asset.
The note above is quite meaningful...
ReplyDeleteAGM was delayed too...
ReplyDelete