SINGAPORE - The regulatory arm of the Singapore Exchange said on Tuesday that it will report the findings of a special audit into various concerning sales and purchases made by mainboard-listed Camsing Healthcare to the relevant authorities, while furthering its own investigations into the potential listing rule breaches highlighted in the report.
SGX RegCo has also required the company to obtain detailed explanations from the former IDs on whether it was proper and appropriate to resign with the unresolved audit matters pending. Among other things, RSM flagged"circular sales" between Camsing's principal subsidiary, Nature's Farm, Global Biotech and I-Nitra.
Separately, in FY2021, Nature's Farm repurchased health supplements from Global Biotech at a cost of about $47,000. These health supplements were previously sold to Global Biotech in FY2018 at a price of about $1.23 million. In aggregate, about 60 per cent of the health supplements previously sold to Global Biotech in FY2017 and FY2018 were"returned" to Nature's Farm in FY2019 and FY2021.
RSM also noted that there was circumstantial evidence to suggest that the three entities and the group's key personnel were connected. The key personnel of the group includes Lo, Mr Hua and Jennifer Wang Yu, the former chief operating officer of Nature's Farm.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
SGX Index Edge to launch bitcoin and ethereum indices with CryptoCompareTHE Singapore Exchange (SGX) is collaborating with UK-based cryptocurrency market data provider CryptoCompare, to launch crypto indices under the SGX iEdge index suite. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
SGX completes pilot digital bond issuance for OlamSINGAPORE (THE BUSINESS TIMES) - The Singapore Exchange (SGX), with HSBC Singapore and Temasek, has completed its first digital bond issuance for agri-food giant Olam International on SGX's digital asset issuance, depository and servicing platform.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
SGX completes pilot digital bond issuance for OlamTHE Singapore Exchange (SGX), with HSBC Singapore and Temasek, has completed its first digital bond issuance for agri-food giant Olam International on SGX's digital asset issuance, depository and servicing platform. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
SGX gives nod for CMT to list up to 2.78b new units, CCT to delistTHE Singapore Exchange (SGX) on Friday granted in-principle approval to CapitaLand Mall Trust (CMT) for the listing of up to 2.78 billion new units as part consideration for its merger by way of a trust scheme with CapitaLand Commercial Trust (CCT), CMT's manager said in a bourse filing on Monday. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
China reports 17 new COVID-19 cases, all importedChina reported 17 new COVID-19 cases on Aug. 30, up from 9 reported a day earlier, the country's health authority said on Monday.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Australia virus cases drop after lengthy Melbourne lockdownAustralia reported fewer than 100 new coronavirus cases Monday, the lowest number in two months as authorities appeared to bring an outbreak in the country's second-largest city under control.
Source: YahooSG - 🏆 3. / 71 Read more »