Brokerage Wah Hing Securities has been put up for sale after running into financial difficulties, sources said. The brokerage suspended operations last Friday after failing to meet the stock exchange's resource requirements. The brokerage's owners were in talks over the sale and had attracted several interested parties including a Shanghai-based operation, sources said. Wah Hing's assets include two brokers' seats and a futures broker's seat even though the company conducts no futures trading. The company yesterday continued to close the accounts of its 2,000 clients to pave way for an internal restructuring. Stock exchange spokesman Henry Law Man-wai said yesterday the regulator had yet to receive any complaints against Wah Hing while the securities settlement house Hongkong Clearing said the brokerage had settled transactions punctually. 'We are investigating the case and have not received any clients' complaints,' Mr Law said. Sources said initial investigation showed no malpractice in Wah Hing, but its cash reserve had dried up. Wah Hing executives refused to comment on the company's potential sale. The brokerage is controlled ultimately by William Chan Pak-to and associates. Mr Chan is chairman of listed consumer electronic maker Wah Nam Group. Wah Nam yesterday said it had no intention of offering any financial aid to Wah Hing and that the two companies had no cross financial arrangements. However, the two companies share two directors. Wah Nam said Samson David Chen and Terence Ho Pui-tin proposed to resign their directorships in Wah Hing on May 7. Wah Nam said it had no receivables due from or to Wah Hing. The parent company said Mr Chan held 16.65 per cent of Wah Nam and had pledged all the interest to the brokerage. It said Wah Hing's troubles would not bring any negative impact to Wah Nam's operations. However, Wah Nam shares collapsed 18.36 per cent yesterday to four cents on comparatively hectic trading of 2.12 million shares.