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Intraday Market Ticker
Time Name Type Price Vol
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Name Last Change
Sembcorp Marine0.145-0.006
Vicplas Intl0.440+0.130
Medtecs Intl1.180+0.170
Singtel2.160-0.050
Alset0.064-
ThaiBev0.590-0.005
Aspen0.185+0.033
Jiutian Chemical0.045+0.002
QT Vascular0.007-
Rex Intl0.145+0.004

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JES Intl

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Related News

JES uncovers possible financial irregularities related to ex-CEO

06 Jul 2015 09:00

By Andrea Soh

CHINESE shipbuilder JES International could be taking legal action against its former CEO and chairman Jin Xin, after it uncovered possible financial irregularities related to him. It has also started proceedings against a former employee who absconded with the group's administrative records and seals.

In a periodic review of its financials, the group discovered that unauthorised payments had possibly been made to Mr Jin, and that "questionable" transactions had taken place between the group and companies in which he had undeclared interests.

While it had intended to conduct an in-depth investigation of these matters, it subsequently found out that its financial records - including account books, cheque books and financial seals - had been removed from its possession by Mr Jin's relatives. This has left the group in limbo.

"The company is at present unable to conduct a more in-depth investigation into its findings," it said in an announcement on Thursday, adding that it is also looking into possible actions against Mr Jin's relatives to recover all company property, including the financial records in their possession.


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Source: Business Times
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