UpdateChina’s Hualian suspends share trading

06 October 2008 06:25 [Source: ICIS news]

(Adds updates throughtout)

SINGAPORE (ICIS news)--China-based China Union Holdings (Hualian Holdings) has suspended the trading of its shares on Monday at the Shenzhen Stock Exchange due to “major issues” that may affect the valuation of its securities, the company said in a statement.

Hualian Holdings is the parent company of Zhejiang Hualian Sunshine Petrochemicals, one of the five largest domestic producers of purified terephthalic acid (PTA).

Hualian Holdings, also known as China Union Developing Group, owns 35% of Hualian Sunshine, while Jiabaili Textile and Zhanwang Enterprise each own 24.5%, while Huaxi Group owns the remaining 16%.

Company officials could not be reached for immediate comments.

Dolly Wu has contributed to this story

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By: Bohan Loh
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