Post Reply
121-140 of 2242
This House of Cards is crumbling..................
YuuZoo CEO quits, citing trading suspension will keep board seat
SUN, MAR 17, 2019 - 10:43 PM
THE March 5 resignation of YuuZoo Networks Group Corp' s chief executive will take effect on Monday morning, the scandal-hit company said in a bourse filing late on Sunday night.
Mohandas, who goes by only one name, will continue to serve on the board, the company disclosed.
It said that Mr Mohandas resigned because YuuZoo is " unable to continue Singapore operations due to continuing share-trading suspension" .
It added that there are no unresolved differences in opinion on material matters between Mr Mohandas and the board, nor related matters that should be flagged for investors.
Trading in the shares of YuuZoo, which was previously known as YuuZoo Corp, was suspended by the bourse operator in March 2018. The company' s offices were raided by the Commercial Affairs Department soon after, in a probe into possible breaches of Singapore' s Securities and Futures Act.
Mr Mohandas officially tendered his resignation on March 5, a day after it was accepted by his fellow directors at a board meeting, according to the YuuZoo announcement.
The departure of Mr Mohandas - YuuZoo' s former chief operating officer, who was named CEO in April 2018 after more than a year with the company' s hot seat vacant - is the seventh senior exit in a year.
Meanwhile, accountant Su Chun Keat, 43, has been appointed an independent director of YuuZoo and chairman of its audit committee, according to a separate filing from YuuZoo, also on Sunday night.
https://www.businesstimes.com.sg/companies-markets/yuuzoo-ceo-quits-citing-trading-suspension-will-keep-board-seat
The Zoo achieved yet another quarterly loss....................
YuuZoo narrows Q4 loss to S$3.1m trading remains suspended
FRI, FEB 15, 2019 - 8:39 AM
UPDATED FRI, FEB 15, 2019 - 8:53 AMYUUZOO Networks Group Corp - previously known as YuuZoo Corp - narrowed its fourth-quarter losses mainly due to the absence of amortisation costs and the impairment of assets available for sale, according to unaudited financial results released late on Thursday night.
For the three months ended Dec 31, the online media company narrowed its net loss to S$3.1 million, from a loss of S$78.7 million for the year-ago period.
Meanwhile, revenue fell 93 per cent to S$740,000 from S$11.3 million, mainly attributable to lower logistics services revenue generated by YuuLogistics France, the company said.
https://www.businesstimes.com.sg/companies-markets/yuuzoo-narrows-q4-loss-to-s31m-trading-remains-suspended
Definitely one of these Zoo residents.
bigdragon966 ( Date: 23-Jan-2019 17:02) Posted:
|
YZSH claimed that " The loss of YuuLong resulted in more then 200 employees losing their jobs" - not true
guards80 ( Date: 23-Jan-2019 17:07) Posted:
|
And more Zoo residents escape from enclosure....................
Two YuuZoo independent directors resign
TUE, JAN 22, 2019 - 6:57 PM
TWO independent directors of YuuZoo Networks Group Corporation have resigned after several months, the online media company announced on Tuesday evening.
Joseph Lee Sien Liang, 40, tendered his resignation on Jan 18 " to deal with private practice work commitments" , having been appointed an independent director of YuuZoo on July 4, 2018. He is deputy managing director of LVM Law Chambers LLC.
Brendan Goh Sian Hin, 53, also tendered on Jan 18 " to deal with work commitments" , having been appointed an independent director of YuuZoo on Nov 11, 2018. He is chief financial officer of LionGold Corp.
Both resignations were noted and accepted at YuuZoo' s board meeting on Jan 21 and deemed effective from Jan 18.
Separately, the Singapore Exchange (SGX) responded on Tuesday night to a letter from the YuuZoo Shareholders Association dated Jan 7, regarding the trading suspension imposed on the company since March 2018.
SGX said that it has responded to the YuuZoo Shareholders Association, noting that the suspension will be lifted when SGX " is satisfied that the state of affairs of the company can be ascertained and the shares of the company can be traded on a fair, orderly and transparent basis" . As the investigation by the Commercial Affairs Department (CAD) is ongoing, trading in YuuZoo shares will continue to be suspended, added SGX.
In April 2018, CAD raided YuuZoo' s offices, seizing materials related to the financial years 2013 to 2016, and interviewed former management staff.
https://www.businesstimes.com.sg/companies-markets/two-yuuzoo-independent-directors-resign
The Zoo Circus continues to be CLOSED.........................to Monkey Business
Regulatory Actions By SGX
22-Jan-2019 19:09:31
Response to YuuZoo Shareholders Association
Singapore Exchange Regulation
The Exchange makes reference to the letter received from the YuuZoo Shareholders Association dated 7 January 2019 regarding the trading suspension imposed on YuuZoo Networks Group Corporation (Company).
The Exchange has responded to the YuuZoo Shareholders Association, drawing reference to its announcement dated 2 April 2018 concerning its referral to the relevant authorities for possible breaches of the Securities and Futures Act (Cap 289) by the Company.
As provided in the aforesaid announcement, the trading suspension will be lifted when the Exchange is satisfied that the state of affairs of the Company can be ascertained and the shares of the Company can be traded on a fair, orderly and transparent basis.
As the investigation by the Commercial Affairs Department is ongoing, trading in the shares of the Company will continue to be suspended.
Wow, looks like fans of The Zoo will be able to visit soon once it Reopens For Business..................
YuuZoo shareholders set up group to get SGX to lift trading suspension
17/01/19, 11:15 amSINGAPORE (Jan 17):
Shareholders of investment holding company YuuZoo have formed an association to urge Singapore Exchange (SGX) to immediately lift its trading suspension.
The association, named YuuZoo Shareholders Association (YSHA) and headquartered in Washington DC, US is also urging other shareholders to join the association to defend their rights.
&ldquo YSHA&rsquo s immediate focus is to have the suspension on the trading of YuuZoo shares, which has been in place since March 19 2018, lifted with immediate effect,&rdquo says the association in a press release as it believes there remains no reason to keep the trade suspension in place.
As the two questions related to YuuZoo&rsquo s FY2017 results and posed by SGX Regulation (SGX RegCo) to its auditors RT LLC have been &ldquo fully answered&rdquo , YSHA believes there &ldquo remains nothing that the market does not have full information on&rdquo .
Explaining its case, YSHA believes YuuZoo has been fully transparent and open in its communication with the market and has complied with all listing rules. Investors have also been provided will full and complete information.
While YSHA appreciates the important role of SGX RegCo in ensuring that listed companies follow all listing rules, the association believes that &ldquo as long as companies provide investors with full information about their operations, the rest should be left to the market, where investors can make their own decisions on the shares they decide to buy or sell&rdquo .
https://www.theedgesingapore.com/yuuzoo-shareholders-set-group-get-sgx-lift-trading-suspension
