“The company is still in the process of finalising the group’s financial results for FY2016. Further details of the group’s financial performance will be disclosed when the Company releases its unaudited consolidated financial results for FY2016,” adds Chen.
Shares in ISR Capital had rocketed more than 4,000% since early last year to hit a high of 33 cents on Oct 31, amid plans to acquire a 60% stake in a rare earths concession in Madagascar. On Nov 24, the stock fell some 55% to just 12.7 cents within two hours before the company halted trading. That was the day Soh was taken into custody.
On Nov 27, Singapore Exchange suspended trading in ISR Capital, citing “circumstances that prevent trading” of its shares “on an informed basis”.
