- FerroChina - Unable to settle debts and loans despite significant profits
- Fibrechem Technologies – Discrepancies between trade receivables and bank balances
- Beauty China – Force-sell of shares of controlling shareholder, which were pledged for Company’s loans
- Sino-Environment – Questionable cash transactions
- Oriental Century – Inflated sales and cash balances
- China Printing & Dyeing – Unable to settle debts
- China Hongxing Sports – Irregularities in the cash and bank balances, receivables, payables and expenses of two China subsidiaries
- Hongwei Technologies – Questionable cash and bank balances in its subsidiary
- China Gaoxian – Questionable cash and bank balances of two subsidiaries
- Sino Techfibre – Fake invoices
- Falmac – Directors and auditors denied access to critical accounting records
- Celestial NutriFoods – Defaulted on liabilities, ...
There have been numerous frauds revolving the Chinese companies that were listed on SGX. Below is a non-exhaustive list of S-Chips that went bad (courtesy of Maria Teo):
