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  • SGX RegCo Directs United Food Holdings Limited To Be Delisted

    Date 14/08/2024

    United Food Holdings Limited (the “Company”) has been placed on the Watch-List since 6 June 2019, after recording pre-tax losses for 3 consecutive financial years and average daily market capitalization of less than S40 million. On 6 September 2021, the Company announced that its independent auditor had issued a disclaimer of opinion on the financial statements of the Company and its subsidiaries (the “Group”), citing concerns among others on the veracity of transactions by a subsidiary, Hebei Xingrun Shengwu Keji Gufen Co., Ltd (河北兴润生物科技股份有限公司， “HBXR”). The auditors noted that HBXR’s minimal production activities did not support its production output and highlighted its doubts about the veracity, existence and completeness of three bank accounts of two other subsidiaries, Shenzhen Yi Kei Logistics Supply-Chain Ltd. (深圳壹凯物流供应链有限公司, “SZYK”) and Shenzhen Bao Yao Agricultural Products Ltd. (深圳宝耀农产品有限公司, “SZBY”). Following the disclaimer of opinion, the Company requested for a trading suspension on 8 September 2021 as it was unable to reasonably assess its financial position. Pursuant to SGX RegCo’s directive, KPMG Services Pte. Ltd. (“KPMG”) was then appointed by the Company as its special auditor on 17 December 2021 to investigate the issues highlighted by the auditors. KPMG reported its findings directly to SGX RegCo and the Company’s Audit Committee, and issued its final report on 5 August 2024. 

  • Shenzhen Stock Exchange Market Bulletin, August 9, 2024, Issue 24

    Date 14/08/2024

    Click here to download Shenzhen Stock Exchange's market bulletin, issue 24.

  • Monetary Authority Of Singapore Collaborates With Banks And Technology Partners On Quantum Security

    Date 14/08/2024

    The Monetary Authority of Singapore (MAS), DBS, HSBC, OCBC, UOB, SPTel and SpeQtral today signed a Memorandum of Understanding (MoU) to embark on quantum security collaboration and study the application of Quantum Key Distribution (QKD) [1] in financial services. QKD can help financial institutions (FIs) protect the exchange of cryptographic keys to address the cybersecurity threats posed by quantum computing.

  • ASX Statement On ASIC Proceedings

    Date 14/08/2024

    ASX advises that civil proceedings were filed against ASX Limited by the Australian Securities and Investments Commission (ASIC) in the Federal Court of Australia on 13 August 2024. The proceedings concern certain statements made in February 2022 by ASX in relation to the previous CHESS replacement project.

  • ASIC Sues ASX For Alleged Misleading Statements

    Date 14/08/2024

    ASIC has commenced proceedings in the Federal Court against Australia’s largest market operator, ASX Limited, for allegedly making misleading statements related to its Clearing House Electronic Subregister System (CHESS) replacement project.

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