SINGAPORE - Singapore-listed Axington, a company linked to the Bellagraph Nova Group, requested for a trading halt pending an announcement before the Singapore stock market opened on Wednesday morning .
Axington is also due to respond to the call by Singapore Exchange's regulatory arm that investigations should be undertaken, where necessary, on the suitability of its professional advisory services firm's board of directors. Its non-independent, non-executive chairman is Ms Evangeline Shen, who is a co-founder of BN Group, Ms Shen, alongside cousins Nelson Loh and Terence Loh.
BN Group was formed in July this year following a merger between the Lohs' Dorr Group and Ms Shen's Bellagraph Group. Ms Shen, who is also known as Shen Che, is a Chinese jewellery merchant.SGX on Monday said its regulatory arm SGX RegCo has engaged Axington's sponsor, Novus Corporate Finance, on its obligations under Catalist rules, and expects a response soon.
On Tuesday also, the BN Group claimed that 'errant individuals, possibly with malicious intent' were behind the controversial marketing material including doctored photos of Mr Obama to make it look as if he had attended a meeting with its executives in Paris. In reality, the photos were taken at a charity gala event in Singapore last December sponsored by Novena Global Lifecare, which was founded by the Loh cousins.