Fujian Zhenyun Plastics requests trading suspension

China-based Fujian Zhenyun Plastics Industry on Friday requested the Singapore Exchange (SGX) to suspend the trading of its shares due to "operational issues resulting in delays to the finalization of the Group's accounts", local media reported.

In a filing to SGX, the company said because of the operational issues, the company's external auditor cannot conduct the planned interim audit and which, market watchers have told Channel NewsAsia, is quite rare.

The company's shares have suspended trading since Tuesday, and such a decision may suggest that it would take a longer time to resolve the problem.

The company said that it has conducted an internal inquiry regarding the matter.

With Headquarters in Fuzhou in China's Fujian province, Fujian Zhenyun Plastics Industry is a Sino-American plastic Pipe Company. It is also one of the muptiple China-based companies listed on SGX under the direct listing framework.

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