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China Sky Chemical Fibre Co Ltd (CSKY.SI)

CSKY.SI on Stock Exchange of Singapore

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Latest Key Developments (Source: Significant Developments)

China Sky Chemical Fibre receives results from court
Friday, 30 Sep 2016 05:13am EDT 

China Sky Chemical Fibre Co Ltd : Received results from court that there were 14 lawsuits filed against a unit . 13 of lawsuits between subsidiaries and claimant, China Construction Bank Quanzhou Branch, of approximately RMB 1 billion have been settled .PRC counsel has advised that these 13 lawsuits may be subject to further legal proceedings if terms of settlement are breached.  Full Article

China Sky Chemical Fibre announces temporary suspension of certain production lines
Tuesday, 16 Aug 2016 08:48am EDT 

China Sky Chemical Fibre Co Ltd : Tianyu and tianjian have each reduced their production lines from 8 lines to 4 lines in April 2016" . Zhongda has reduced its production lines from 5 lines to 3 lines currently" . Management citied reduction of the production lines due to the continuing weak demand of its products and also the deteriorating selling price . Management had stated that the macro environment outlook in 2016 is likely to continue to remain competitive and challenging . "The management has expected the nylon market to continue to be a period of uncertainty" .  Full Article

China Sky Chemical Fibre updates on lawsuits filed against units<0939.HK><601939.SS>
Monday, 15 Aug 2016 08:16am EDT 

China Sky Chemical Fibre Co. Ltd: China sky chemical fibre co., ltd. (lawsuits filed against the company subsidiaries) . Legal proceedings had been commenced by China Construction Bank against company and/or its subsidiaries with Quanzhou people's intermediary court . Management is in discussions/negotiations with relevant prc authorities on settlement of outstanding amounts . Currently unable to obtain further information of legal proceedings until duly signed power of attorney from Tianyu and Tianjian is submitted to prc court . Company is in the process of engaging suitable PRC counsel to proceed with the power of attorney . On 12 August board received confirmation from units salaries/wages of RMB3.6 million and social security/insurance contributions of RMB8.1 million remain outstanding . Announces receipt of order of court against unit of co on to compensate amount of about RMB800,000 to 34 previous employees of co who have been laid off . No lawsuits have been filed against the company and/or its subsidiaries in regards to salaries/wages and social security/insurance contributions .  Full Article

BRIEF-China Sky Chemical Fibre says evaluating status of Zhongda

* China sky chemical fibre co ltd - company is now evaluating status of qingdao zhongda chemical fibre company limited