Chinese chemicals manufacturer, SunVic listed on the Singapore Stock Exchange in 2007. In April 2013, the company's auditors noted an arrangement between the CEO and one of the customers which was not previously disclosed. It auditors subsequently resigned later that year. These unapproved related party transactions continued for a number of years just as the company's financial performance was deteriorating. In November 2015, the Singapore Exchange announced that it had reprimanded SunVic for failing to seek shareholder approval for undisclosed related party transactions between FY13 and FY15 with the company’s CEO. The company was taken private in April 2021.

Last updated August 2022.

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.