Finally, the company said that it had a fixed deposit account with the Agricultural Bank of China in its announcements dated April 2015 to August 2018, which were, again, not factual, false and misleading.
The SGX-ST Listings Disciplinary Committee has publicly reprimanded Wu Xinhua, the former executive chairman and CEO of Raffles Infrastructure Holdings (SGX:LUY
) for breaching several Mainboard rules.
Wu was said to have breached Mainboard rule 703(4) and rule 1402(5) when the company disclosed bank balances which were non-factual, false and misleading in its announcements and annual reports between November 2015 and August 2018. Raffles Infrastructure had also announced, between November 2015 and November 2017, that it received claims and made compensation for, which were also found to be non-factual, false and misleading.
