Nutryfarm's executive chairman resigns

All powers and duties of the directors have been suspended since the company was placed under judicial management.

Wu Yongqiang, the executive chairman of Nutryfarm, has resigned with his date of cessation being effective on Sept 21.

Wu’s resignation comes as the company, which was placed under judicial management on June 28, now has a judicial manager to oversee the company’s affairs.

As such, all powers and duties of the directors have been suspended, leading to Wu’s resignation.

On July 20, Lin Ruihua David resigned from his role as non-executive independent director for the same reasons.

Shares in Nutryfarm last traded at 8.5 cents in April before its trading halt.

See Also:

• Click here to stay updated with the Latest Business & Investment News in Singapore

• NutryFarm secures large durian order

• NutryFarm diversifies into durian distribution

• NutryFarm wins new sales order of RMB195 mil for 300 containers of fresh durians

• Read more stories about where the money flows, and analysis of the biggest market stories from Singapore and around the World

• Get in-depth insights from our expert contributors, and dive into financial and economic trends

• Follow the market issue situation with our daily updates

• Or want more Lifestyle and Passion stories? Click here