Apparently CITICPacific did not reveal the initial 2.8 billion foreign currency loss disaster until 6 weeks after they became aware of them. Provision for loss has since increased to 3.4 billion AU.
Gotta feel sorry for holders who bought in the interim.
The board is now under under investigation by the Hong Kong securities regulators over the trading scandal.
As reported in todays WABusinessnews email bulletin.
I am sure this will not help the RDI float and hence our chance of escaping this stinking dog for a reasonable quid.
White shoes all over the place.
Did someone mention Russian ginger. ROFLMFAO
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