Latest Search
Quote
| Back Zoom + Zoom - | ||||
|
SINGAMAS CONT Opens Down 17.8% as Company, Chairman Teo Siong Seng Face US DOJ Antitrust Criminal Charges
Recommend 12 Positive 6 Negative 14 |
||||
|
||||
|
SINGAMAS CONT (00716.HK) opened down 17.8% at HKD0.485, with 3.038 million shares traded in pre-market negotiated transactions, involving HKD1.4734 million. SINGAMAS CONT dived 3.3% yesterday (20th) before trading being suspended midway. The Company noticed that the United States Department of Justice (US DOJ) publicly announced criminal antitrust charges against certain container manufacturing companies and individuals, including, among others, the Company, Teo Siong Seng (executive director and chief executive officer of the Company and chairman of the board of directors of the Company), and an employee of the Group. As of yesterday, neither the Company nor Teo has been served with any legal process or other legal documentation by the US DOJ in relation to the Matter. The Company has engaged external legal advisers in respect of the Matter and the potential implications thereof. In the meantime, the Board considers that the business operations and day-today activities of the Group remain normal in all material respects. Trading in the shares of the Company has been resumed this morning (21st). CIMC (02039.HK) also announced that it has been made aware that, the United States Department of Justice (US DOJ) on 19 May 2026 (U.S. time) publicly announced charges against, among others, the Company; Mai Boliang (the chairman of the board of directors of the Company and an executive director); Huang Tianhua (the vice president of the Company); and Wan Yongbo, an employee of the Group (who is not a director nor a senior management of the Company) for conspiring to restrict the output of, and fix the price of, certain unrefrigerated shipping containers. At the moment, neither the Company, Mai Boliang, Huang Tianhua nor Wan Yongbo has been served with any legal process or other legal documentation by the US DOJ in relation to the Matter. The Company attaches great importance to the Matter and will closely monitor and respond proactively. The Company confirms that the Group’s daily business operations remain normal in all material respects, and the Company will continue to assess the subsequent impact of the Matter. CIMC opened down 0.32% at HKD9.39 this morning, with 7,377 shares traded in pre-market negotiated transactions, involving HKD69,300. AASTOCKS Financial News |
||||
Copied to Clipboard
 |
||||
