Singapore exchange authority probes company linked to Mirzan Mahathir

📆 13/06/2020 11:16:00
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This comes after the release of a special audit into SBI Offshore's sale of a factory in China at a much reduced price. FMTNews

SGX RegCo, the regulatory authority of the Singapore Exchange, is investigating SBI Offshore over possible violation of listing rules.

The probe comes after the release of a special audit pushed by SGX Regco in December 2018 into the company’s sale of a factory in China at a significantly discounted price. The audit also found that valuations were not conducted to assess and support the purchase consideration of RMB32 million.

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