30-11-2015, 02:47 PM
The appointment of provisional liquidators for China Fishery Group Limited (CFG) and its suspension of trading together with its immediate parent company Pacific Andes Resources Development Limited (PARD) on SGX, as well as the suspension of trading by ultimate parent company Pacific Andes International Holdings Limited (PAIH) on SEHK, would probably lead to another massive corporate failure between SG and Hong Kong. It is highly likely that shareholders of these 3 companies would see their investment capital totally wiped out, and this could apply to their unsecured bond holders as well. Banks which have extended loans and trade financing to these group would have to lick their wounds too. Just so sad!