Foreland Fabrictech

[sgmystique]

Considering that the claim/compensation seems so obviously wrong, and the executives still want to go ahead, what does that tell you about the quality of management?

egghead, the quality of management here is obviously poor...The going ons at Foreland have been extremely murky but the pertinent question is will the SGX be able to set these obvious wrongs right. The SGX, MAS and CAD are all responsible to bring those who have committed wrong doings to book.

Hopefully the action taken at China Sky Chemical Fibre (Business Times article quoted below) gives hope to shareholders of Foreland...

Ex-CEO of China Sky to pay civil penalty, give up 10% of his shares

FORMER chief executive of beleaguered China Sky Chemical Fibre, Huang Zhong Xuan, will pay a civil penalty of S$2.5 million and surrender 10 per cent of his shareholding in China Sky under a settlement agreement with the Monetary Authority of Singapore (MAS).

Please go to the link below for the full article:

http://www.businesstimes.com.sg/companie...his-shares