Wednesday, October 16, 2019
 
Columnist
Martin Hennecke

Camsing continues to plunge
 
11/07/2019
 
<p>Shares of Camsing International (2662) continued to slump by 12.12 percent to HK$0.58 yesterday with the stock slumping more than 90 percent in a week, even though the company denied forging contracts with JD.com.</p><p>Noah levied accusations of fraud against Camsing in relation to a 3.4 billion yuan (HK$3.86 billion) asset management product that is in danger of default. The underlying assets of the product are backed by accounts payable from Beijing JD Century Trade Holdings to Camsing.</p><p>Meanwhile, the Putuo branch of the Shanghai public security bureau said that it approved the arrest of two suspects surnamed Wang and Zhou on child molestation charges.</p><p>Mainland media revealed that founder of Future Land Development (1030) Wang Zhenhua is being investigated for allegedly molesting a nine-year-old girl.</p>
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