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ENERGY & OFFSHORE | Staff Reporter, Singapore

Pacific Andes launches probe into why unit went into provisional liquidation

It has established an independent review committee.

Pacific andes Resources Development will establish an independent review committee to investigate why its affiliate China Fishery Group has been placed on provisional liquidation.

The committee will look into the circumstances which gave rise to the Appointment of Provisional Liquidators, and procure the engagement of an independent accounting firm to undertake an independent reporting accountant role and to conduct an independent forensic review in relation to the financial aspects of the Company and its subsidiaries.

Trading of Pacific Andes shares will remain halted until further notice. 

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