Chinese cosmetics company Beauty China listed in the Singapore exchange in 2003. In March 2009, trading was halted as the company's founder was forced to sell a 9% stake to cover a margin loan. A few days later, the company then announced that it had defaulted. In June, it was disclosed that the company would be making a series of write-downs against receivables, fixed assets, land, goodwill and inventory, which was not included in the unaudited results. This was effectively an admission that it had overstated previous profits. The company was wound-up and delisted. It is a confirmed fraud. 

Last updated December 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.