Apple Daily reported that although DBA TELECOM (03335.HK) 0.000 (0.000%) claimed it has $737 million in cash, the Chairman and controlling shareholder Yu Long Rui has been raising capital through multiple channels last year, resulting in suspicion on the company's account. Some traders disclosed that Yu once tried to lend $10 million by using the shares as pledge, but the agreement was not reached. Meanwhile, the Company delayed the annual result announcement and the stock price once slumped over 50% yesterday.
The trading in the stock was suspended, pending for further announcement on reason.
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