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China Minzhong (MINZ SP)

Year: 2013

Vegetable processor China Minzhong listed on the Singapore Exchange in 2010. It was attacked by short-seller Glaucus Research in August 2013 alleging that sales and profits had been inflated with the evidence parked in fabricated cash balances and fixed assets. Although our A&G Screen indicates that Minzhong's financials have traits in line with past frauds and its financial performance deteriorated immediately after the report (similar to many other short-seller targets), auditor Crowe Horwath signed off on its financials. The company was taken private in December 2016 by Anthoni Salim, Indofood's (ICBP IJ) largest shareholder. As such, the allegations against China Minzhong are unproven.

Last updated November 2021

The information on this page has been compiled from publicly available sources. GMT Research Limited has not verified the information and does not warrant its accuracy. Any claims made or views expressed are not necessarily those of GMT Research Limited.

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