Hall of Shame

China Fishery (CFG SP)

China Fishery is a fishing company listed in Singapore which primarily operates in China and Peru. It is controlled by another Singapore-listed company Pacific Andes Resources (PAH SP), which has a 71% stake. PAH is in turn controlled by a Hong Kong-listed company, Pacific Andes International (1174 HK) which owns a 66% stake.

In August 2015, the companies announced investigations by regulators in Singapore and Hong Kong. No further details were provided. Following this it appears the banks recalled loans. Trading in the shares were halted in November 2015 and liquidators were appointed. The shares remain suspended. Very little information has been forthcoming since. No results have been published. A forensic accountant was appointed to review the group’s financial position, although as yet no conclusions have been announced.

China Fishery: Annual Report 2014