SGX encourages investors to report securities issuers who are violating corporate governance standards or breaching SGX rules and regulations. Investors must raise awareness of the questionable conduct at Celestial Nutrifoods over the last few years.
Specifically, investors must complain about the irregular, inconsistent and incomplete disclosure made by Celestial in the company's SGX filings. Management misrepresented its intentions in 2008/2009 when it declared publicly that it was preparing to redeem outstanding convertible bonds. Also, the massive "investments" that were made by management have never been properly accounted for. This lack of transparency is unacceptable for an SGX listed company.
Write to the SGX Regulatory Matters Group at the following address:
RMR/MSE
4 Shenton Way
#02-01, SGX Centre 2
Singapore 068807
United Overseas Bank said in a research note that higher interest rates would come from further Singdollar weakness and the speculation for an October easing.
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