STOCKS | Kingworld Medicines Says Simei No Longer Its Controlling Company

Kingworld Medicines Group (02231) said it was informed that Chan Chi Chung (Adrian) and Kam Chung Hang (Forrest) of Ernst & Young Corporate Finance Services, together with Luke Almond of Ernst & Young Ltd., were appointed joint liquidators of Simei on May 26 by order of the High Court of the Eastern Caribbean Supreme Court in the British Virgin Islands, according to ETNet. The company said Simei held more than 50% of its shares on May 26 and was therefore its holding company, but as of yesterday Simei's stake had fallen below 50%, so it was no longer the holding company, although it remained a controlling shareholder.