Sainty Marine investigated by CSRC, faces delisting

Sainty Marine investigated by CSRC, faces delisting

Financially troubled shipbuilder Sainty Marine has announced that it has received a notice of investigation from China Securities Regulatory Commission for disclosure violations.

Sainty Marine has failed to report to the stock exchange a bundle of lost orders, breaching information disclosure rules. The company said it is facing the risk of delisting if the commission finds major illegal activities in the investigation.

In April Shenzhen Stock Exchange made an announcement in which it had denounced Sainty Marine for violations of information disclosure rules.

Sainty Marine has suspended stock trading since August 6 to work on a rejuvenation plan.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.

Related Posts