<TABLE border=0 cellSpacing=0 cellPadding=0 width=452><TBODY><TR vAlign=top><TD></TD></TR><TR><TD vAlign=top width=452 colSpan=2>Published November 18, 2009
</TD></TR><TR><TD vAlign=top width=452 colSpan=2>Bright World assisting CAD probe
Directors unaware of nature of investigation but firm will keep shareholders updated
By JAMIE LEE
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THE police's white collar crime division is seeking information from China-based Bright World Precision Machinery relating to an investigation.
In a regulatory filing yesterday, the maker of stamping machines said: 'The company has been asked by the Commercial Affairs Department (CAD) to provide assistance and information in connection with an investigation which CAD is conducting.'
Bright World added that as at the date of the announcement, the company's directors 'are not aware of the nature of the investigation'.
It declined further comment on what the investigations were about when contacted yesterday.
A spokesman told BT that the company was also unlikely to call for a share trading halt today.
The company - which was listed in April 2006 on the mainboard - was also unable to say if the probe is related to the recently halted investigations by the Monetary Authority of Singapore (MAS) over possible breach of disclosure rules.
Bright World said in August this year it was informed by the MAS that 'based on the currently available information, MAS does not intend to take any further steps in the foregoing matter at this juncture'.
MAS wrote to the company in September last year about a potential breach of Section 203 of the Securities and Futures Act.
This was linked to a now-expired takeover bid and the share price movement preceding and following the offer announcement
A week before China Holdings Acquisition Corp said that it wanted to acquire Bright World in July 2008, the share price of the company shot up. But its share price reportedly tumbled by as much as 35 per cent in the week after the takeover announcement.
Bright World said in yesterday's announcement that it would keep shareholders posted on the the CAD probe. CAD was unable to comment by press time.
Shares of Bright World closed up half a cent to end at 17 cents yesterday.
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</TD></TR><TR><TD vAlign=top width=452 colSpan=2>Bright World assisting CAD probe
Directors unaware of nature of investigation but firm will keep shareholders updated
By JAMIE LEE
<TABLE class=storyLinks border=0 cellSpacing=4 cellPadding=1 width=136 align=right><TBODY><TR class=font10><TD width=20 align=right>
</TD><TD>Email this article</TD></TR><TR class=font10><TD width=20 align=right>
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<SCRIPT type=text/javascript src="http://s7.addthis.com/js/250/addthis_widget.js#pub=xa-4ae026ba0e05c08d"></SCRIPT><SCRIPT type=text/javascript> var addthis_config = { username: "xa-4ae026ba0e05c08d", services_compact: 'facebook, twitter, favorites, myspace, google, digg, live, delicious, stumbleupon, more', services_exclude: 'print', data_use_flash: false } </SCRIPT> <!-- AddThis Button END --></TD></TR></TBODY></TABLE>THE police's white collar crime division is seeking information from China-based Bright World Precision Machinery relating to an investigation.
In a regulatory filing yesterday, the maker of stamping machines said: 'The company has been asked by the Commercial Affairs Department (CAD) to provide assistance and information in connection with an investigation which CAD is conducting.'
Bright World added that as at the date of the announcement, the company's directors 'are not aware of the nature of the investigation'.
It declined further comment on what the investigations were about when contacted yesterday.
A spokesman told BT that the company was also unlikely to call for a share trading halt today.
The company - which was listed in April 2006 on the mainboard - was also unable to say if the probe is related to the recently halted investigations by the Monetary Authority of Singapore (MAS) over possible breach of disclosure rules.
Bright World said in August this year it was informed by the MAS that 'based on the currently available information, MAS does not intend to take any further steps in the foregoing matter at this juncture'.
MAS wrote to the company in September last year about a potential breach of Section 203 of the Securities and Futures Act.
This was linked to a now-expired takeover bid and the share price movement preceding and following the offer announcement
A week before China Holdings Acquisition Corp said that it wanted to acquire Bright World in July 2008, the share price of the company shot up. But its share price reportedly tumbled by as much as 35 per cent in the week after the takeover announcement.
Bright World said in yesterday's announcement that it would keep shareholders posted on the the CAD probe. CAD was unable to comment by press time.
Shares of Bright World closed up half a cent to end at 17 cents yesterday.
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