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SouthGobi requested to conduct forensic investigation into ‘suspicious’ transactions by former executives

The Hong Kong Stock Exchange has provided Mongolian coal producer SouthGobi Resources with a resumption guidance, compelling the company to conduct a forensic investigation of past conduct engaged in by former senior executive officers and employees of the company which raises suspicions of fraud, misappropriation of company assets and other criminal activities. SouthGobi, which is listed on the TSX and the Hong Kong Stock Exchange, in December reported that it had received information relating to past conduct by former senior executive officers and employees who allegedly participated in suspicious transactions between 2016 and the first half of 2018.

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