Strong Petrochemical Suspends Executive for Unauthorized Transactions

MT Newswires Live

2024/12/24

Strong Petrochemical Holdings (HKG:0852) suspended Wang Jian Sheng from his executive duties following allegations of fiduciary breaches, including undisclosed shareholding and unauthorized transactions, according to a Monday filing with the Hong Kong bourse.

At the same time, legal disputes continue between Wang and shareholder Yao Guoliang, involving winding up petitions and injunction applications. A Hong Kong court recently dismissed an injunction to block an extraordinary general meeting.

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