Superb Summit International Group Limited, through its subsidiaries, exploits and manages timber resources in China.
The Securities and Futures Commission has “directed Hong Kong Exchanges and Clearing to suspend all dealings” in the shares of the coal and timber trader, under Section 8 of the securities and futures rules, Superb said in an exchange filing.
Muddy Waters, a US short-seller reported on Superb Summit they claimed that almost all of the revenues Superb Summit reported in 2013 and 2012 were likely attributed to its purported subsidiary, Tianjin Libao Coal Trading, which it allegedly never owned.
Eric Ng (SouthChinaMorningPost): After Muddy Waters attack, timber firm hit by Hong Kong regulator, 15 Dec 2015
Toh Han Shih (SouthChinaMorningPost): Muddy Waters alleges fraud at Superb Summit, 20 Nov 2014
Muddy Waters: Short sellers Report, 20 Nov 2014
Superb Summit: Annual Report, 29 Apr 2008