False Accounting Charge brings search at tungda
The Commercial Crime Bureau yesterday executed a warrant for search and seizure for a suspected false accounting offence against the premises of Tungda Innovative Lighting Holdings. During the investigation, chairman Chu Chien-tung, executive director Chu Sen-hei and Chu Chick-kei were arrested and later released on police bail without being charged. The Growth Enterprise Market firm's shares have been suspended from trading since July 29 last year.
watchdog calls for broker responsibility
The China Securities Regulatory Commission has ordered the senior management of brokerage houses to sign letters guaranteeing to be responsible for their companies' operations and the 'safe' management of clients' funds. The order comes after reports of an increasing number of brokerages that have been found to have misappropriated clients' money to speculate in stocks and bonds.
Property group Tan Chong earnings increase 17pc
Motor and property group Tan Chong International posted a 17.91 per cent rise in net profit to $340.77 million for the year to December, compared with a gain of $288.99 million in 2003. The firm announced a final dividend of four cents, against 3.5 cents in 2003. Earnings per share were 16.9 cents, up from 14.4 cents.
