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Sino-Forest to put off results
TORONTO-LISTED Chinese forestry firm Sino-Forest is further delaying the release of its third-quarter financial results until unnamed “outstanding issues” have been resolved to the satisfaction of its board of directors.
Sino-Forest, whose shares have been halted for months following allegations of fraud, yesterday said executives were considering several options for the firm including a sale.
The firm had been expected to file its results on Thursday, under a 30 day period agreed in November. The firm also said a report by an independent committee into fraud allegations will not be issued until 2012, instead of the year-end as planned.