A STI component stock, Yangzijiang Shipbuilding (YZJ), is down 20% today and halted on possible fraud and halt of financing business. Is it sinking amid China’s continued anti-corruption campaign?
Rumours are also circulating the chief of Yangzijiang Shipbuilding, Ren Yuanlin, has been “missing” for over two months and is under investigation by Chinese authority for association of the corruption.
This post was originally posted here. The writer, a community member on InvestingNote.
YZJ stock price here: $YZJ Shipbldg SGD(BS6.SI)
Yangzijiang shipbuilding – is it sinking amid China’s continued anti-corruption campaign? Rumors are circulating the chief of Yangzijiang Shipbuilding (BS6.SI), Ren Yuanlin, has been “missing” for over two months and is under investigation by Chinese authority for association of the corruption case involving Liu Jianguo, the former party secretary of City of Jiangyin and Jingjiang, where Yangzijiang Shipbuilding has grown from a shabby ship repair yard into a family owned ship-building...
