Jawala asks for trading suspension after subsidiary's bank accounts frozen

-A +A

SINGAPORE (Nov 12): Sabah-based timber company Jawala Inc said the CIMB Bank and Public Bank accounts of its subsidiary, Jawala Plantation Industries, have been suspended on Nov 7.

The company, which was listed on the Singapore Exchange some five months ago, has asked for a trading suspension of its shares.

“As the company needs more time to engage with and seek clarification from the relevant authorities and regulators in Malaysia in respect of the suspension of the bank accounts, the board has recommended that it is in the best interests of...(click on link for full story on theedgesingapore.com)