Yangzijiang Shipbuilding:after the lifting of a trading halt that was instituted on Aug 8. At Thursday’s close, shares in China's largest non-state owned shipbuilder plunged 18 Singapore cents, or 17.3 per cent, to S$0.86, on hefty turnover of 129.3 million units. Its fall brought it to a 2.5-year low, despite an active share buyback by Yangzijiang.
On Aug 8, Yangzijiang's shares had dived by as much as 20 per cent before the trading halt. The trigger for the panic selling was said to have stemmed from a report by shipping news service TradeWinds two weeks ago that Liu Jianguo was being probed for"serious disciplinary violations". Mr Liu is chairman of the management committee of the Jiangsu Yuanlin Charity Foundation set up by Yangzijiang’s executive chairman, founder and controlling shareholder Ren Yuanlin.
, as non-executive non-independent director and chairman of CRCT’s executive committee. Mr Loh replaces CapitaLand Group CEO Lee Chee Koon in the two roles, who will step down from CRCT’s executive committee in order to spend more time growing the group's overall business.Separately, CRCT will launch its preferential offering at 9am on Friday, and close it at 5pm on Aug 26. It is offering 86.
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