<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Sept 20): Shares in China-based frozen food manufacturer HB Global Ltd tumbled 17.65% this morning after Bursa Securities publicly reprimanded the company for failing to ensure its fourth-quarter report for its financial year ended Dec 31, 2016 (4QFY16) took into account adjustments announced on April 28, 2017.</p></div>

<div class=newsTextDataWrapInner><p>At 9.09am, HB Global fell 1.5 sen to 7 sen with 261,400 shares traded.</p></div>

<div class=newsTextDataWrapInner><p>Bursa Securities said while it has not found any of HB Global’s directors to have caused or permitted the breach by the company, it is their duty to maintain appropriate standards of responsibility and accountability so as to ensure compliance with the Main Market listing requirements.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>As such, all of its five directors are required to attend a training programme in relation to compliance with the Main Market listing requirements pertaining to financial statements.</p></div>

<div class=newsTextDataWrapInner><p>HB Global is also required to review and ensure the adequacy and effectiveness of its financial reporting function and carry out a limited review on its quarterly report submissions.</p></div>

<div class=newsTextDataWrapInner><p>HB Global had reported an unaudited net loss of RMB29.9 million for its 4QFY16 results announced on Feb 28, 2017, as opposed to an audited net loss of RMB24.89 million in the audited financial statements for FY16 announced on April 28 the same year.</p></div>

KUALA LUMPUR (Sept 20): Shares in China-based frozen food manufacturer HB Global Ltd tumbled 17.65% this morning after Bursa Securities publicly reprimanded the company for failing to ensure its fourth-quarter report for its financial year ended Dec 31, 2016 (4QFY16) took into account adjustments...

HB Global tumbles 17.65% after public reprimand from Bursa Securities 

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