Embattled Singapore technology firm Datacraft Asia faces renewed share-price pressure on Monday following the admission that it was 'privately reprimanded' by the city-state's stock exchange in May for inadequate disclosure over its operations in China.
The systems integrator's stock was punished on Friday after news broke that it was under investigation by Singapore's white-collar crime unit.
In a letter to Datacraft dated May 31 and released by the company late on Friday, the stock exchange said: 'The exchange privately reprimands Datacraft for its failure to make an appropriate disclosure in relation to the accounts receivable provisions' for its China operations.
Datacraft, a unit of South African high-technology group Dimension Data, saw its shares sink 11.5 per cent to 92 Singapore cents on Friday.
News of the probe by the Commercial Affairs Department (CAD) was released late on Thursday after Datacraft had requested a trading suspension.
Led by chairman Patrick Quarmby, Datacraft has rejected suggestions that the CAD officers will uncover wrongdoing, including a denial that other senior executives had engaged in insider trading last year.
'We have conducted our own investigations and would be very disappointed if CAD found any irregularities,' Mr Quarmby told reporters last week.