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Published on 2/29/2016 in the Prospect News Distressed Debt Daily and Prospect News Emerging Markets Daily.

China Fishery applies to extend results filing deadline to April 30

By Caroline Salls

Pittsburgh, Feb. 29 – China Fishery Group Ltd.’s board of directors applied to the Singapore Exchange Securities Trading Ltd. for an extension to April 30 of the deadline for the filing of the company’s results for the year ended Sept. 28, according to a news release.

China Fishery said it was unable to work on the finalization of its results until the joint provisional liquidators appointed in Hong Kong and the Cayman Islands were removed in January.

The company also announced changes to the composition of the board and board committees, which were made following the removal of the liquidators.

According to a separate news release, the changes in composition to the corporate social responsibility committee include: Tse Man Bun has stepped down and relinquished his position as chairman; Tan Ngiap Joo is no longer the alternate member to Tse Man Bun; Lim Soon Hock was appointed as member and chairman; and Tan Ngiap Joo was appointed as alternate member to Lim Soon Hock.

Changes to composition of the investment committee include: Tse Man Bun has stepped down; Tan Ngiap Joo is no longer the alternate member to Tse Man Bun; Ng Joo Siang has relinquished his position as chairman but is still a member; Tan Ngiap Joo was appointed as a member and chairman; and Lim Soon Hock was appointed as a member.

In addition, Ng Joo Siang and Chan Tak Hei resigned as executive directors of the company’s board, effective Jan. 21.

As a result, Ng Joo Siang is no longer a member of the corporate social responsibility and investment committees and Ng Jui Ping is no longer his alternate member to the corporate social responsibility committees.

China Fishery said Jessie Ng Puay Yee was appointed as an executive director and the company’s chief executive officer. She was been appointed as a member of the investment committee.

Also, Paul Jeremy Brough was appointed as an executive director.

The company said Ng Joo Thieng was appointed as the general manager of principal subsidiary Corporacion Pesquera Inca SAC. He is the brother of executive directors Ng Joo Kwee and Jessie Ng Puay Yee.

China Fishery is a Hong Kong-based manager and operator of fishing vessels for coastal and deep-sea industrial fishing.


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