Chinese cable manufacturer Hu An Cable listed in Singapore in February 2010 and then in Taiwan in October. Profitability peaked just after the IPO but the company started recording losses by FY14. In 2015, Hu An Cable disclosed that a court in China had ordered it to sell some of its subsidiaries to overcome financial difficulties. In February 2017, the company's CEO resigned as he had been placed under travel restrictions. The board was also investigating reports that some of the company's assets were being sold. In December 2018, the company requested a suspension of its shares until it could meet the SGX's reporting requirements. In May 2020, the company revealed that its Chinese subsidiaries had been declared insolvent in 2016 and 2017. The company's CEO had been convicted of money laundering and securities fraud. He and his wife had a nasty gambling habit. The company is a confirmed fraud.

Last updated October 2021

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