IS JAMES ZHANG still with FibreChem Technologies?
That question appeared on the lips of some of our readers after they read our article this week on FibreChem.
Bruce Zhang, the Xiamen-based representative of Financial PR, a Singapore investor relations firm, had traveled to the HQ and factory of Fibrechem recently to find out if they were still in operation.
His report can be accessed through the link provided at the bottom of this page.
The S-chip had shocked the market with news of possible accounting irregularities, and the stock price has collapsed. Trading of the stock was suspended on the Singapore Exchange in February this year.
More than two months on, there have been no media reports, or company updates, on how the developments have impacted the company’s day-to-day operations.
Is James Zhang, who offered to resign in February, still with the company?
One could surmise he is, since there has been no company announcement that he has actually left.
Trouble is, there has been no company announcement either that his offer to resign has been turned down by the board. The company has previously announced the appointment of Xu Xu Hui, its vice-chairman, as acting CEO.
Yesterday afternoon, NextInsight obtained the name card of James Zhang from a contact who had met him last year in Xiamen.
The name card had his China mobile phone number, which this contact had called a few times previously on business, and James had answered the call.
This time, when NextInsight called, he didn’t pick up the phone. Instead, a lady answered, saying she was James’ personal assistant.
“He is not in the office. He is away on a business trip,” she said.
When would he return?
”I am not sure,” she replied.
Asked if he was still with the company, she said ‘yes’ and quickly added that that it was not convenient to speak further.
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