SIIC Environment Holdings (SG:BHK) has released an update.
SIIC Environment Holdings Ltd. has announced that the China Securities Regulatory Commission (Shanghai) has imposed administrative penalties and a warning on a related company, Shanghai Industrial Development Co., Ltd., and one of SIIC’s executive directors, Mr. Xu Xiaobing, for failing to disclose a subsidiary’s expected operating loss in a timely manner. Mr. Xu, who held positions at both companies, is facing consequences for regulatory non-compliance that occurred during his tenure. This development may have implications for SIIC Environment Holdings and its governance practices.
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