Gerade über den Ticker gelaufen+++++
Könnte der Aktie Auftrieb geben---
Quelle Reuters:
www.reuters.com/article/2011/07/12/canada-hongkong-ts…
Tue Jul 12, 2011 2:55pm EDT
* Says hasn't talked with U.S., Canadian regulators
* Urges companies to provide disclosure
By Ka Yan Ng
TORONTO, July 12 (Reuters) - Hong Kong's top financial official said on Tuesday he had not had talks with U.S. or Canadian securities regulators about their probes into embattled Chinese forestry company Sino-Forest (TRE.TO).
Hong Kong Financial Secretary John Tsang also replied "no" when asked by reporters after a speech in Toronto if North American regulators had requested he look into Sino-Forest.
"In general, I think these companies, it would be their own responsibility to explain the situation," he said, adding that Hong Kong's standards for companies listing there through reverse takeovers were the same as for those listing by conventional means.
"There's really not a loophole in Hong Kong per se, but obviously you treat it differently here in Canada as well as in the U.S. It's a complex issue and I think the authorities need to look into that."
The value of Sino-Forest shares and bonds collapsed last month after short-seller Muddy Waters accused the Toronto-listed company, technically based in Mississauga, Ontario, but operating mainly in China, of fraudulently exaggerating the size of its forestry assets.
The company has denied the allegations and appointed an internal committee of its independent directors to investigate the matter. However, a full review is expected to take up to three months to complete.
The Sino-Forest case and accounting scandals at other North American-listed Chinese companies have shone a spotlight on the murky world of reverse takeovers, that let small private entities go public via listed shell companies with far less scrutiny than through an initial public offering. [ID:nN1E75M0K0]
The Ontario Securities Commission, Canada's main securities regulator, as well as the U.S. Public Company Accounting Oversight Board and the Securities and Exchange Commission, are conducting reviews into companies listed in North America but having a major portion of their business operations in China or other emerging markets. [ID:nN1E7641Q1 [ID:nN1E7641WQ] (With additional writing by Jeffrey Hodgson; editing by Rob Wilson)
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