Asia/Pacific News
Trading Suspended in Shares of Hong Kong's NewOcean Energy
Trading in the shares of bunker supplier NewOcean Energy is to be suspended in Hong Kong after the firm delayed publication of its 2021 results.
Trading in the firm's shares will be suspended from April 1 until the results are published, the company said in a statement on its website on Wednesday.
On Tuesday the company said its 2021 results had been delayed after several managers left the company around the start of 2022. The firm now expects to release the publication on of before July 31.
The firm announced in October that it was moving out of its main office in Hong Kong, keeping just a smaller registered office there to comply with local law and moving its headquarters to its regional office in mainland China.
NewOcean is currently going through a restructuring process aimed at keeping the company stable and operational while addressing its debts.
