YuuZoo files 2nd request to lift trading suspension

The e-commerce firm described the suspension as “unjustified and deeply damaging”.

YuuZoo Networks Group Corporation (YuuZoo) has made a 2nd request to SGX RegCo to lift the share trading suspension, which was imposed on the shares of the company in March 2018.

The firm said in a bourse filing that the suspension is “unjustified and deeply damaging” to its shareholders.

However, SGX RegCo stated the trading ban would be lifted when “the Exchange is satisfied that the shares of the company can be traded on a fair, orderly and transparent basis”.

YuuZoo also stated that it has provided the market all the information the market regulator requested.

Also read: YuuZoo clarifies ownership of closed Singapore office

The troubled e-commerce firm halted its Singapore operations last March, blaming Inland Revenue Authority of Singapore’s (IRAS) seizure of its cash funds held in its Singapore bank account.

Its CAD investigation has been ongoing for more than a year.