SINGAPORE (Nov 30): China Fibretech has suspended the trading of its shares after subsidiary Shishi Simwa Knitting & Dyeing Co. received damage claims from three customers last week.

China Fibretech said due to the uncertainties surrounding these claims, trading of its shares would be suspended until further notice to ensure a fair, orderly and transparent market.

The customers claimed they incurred “substantial damages and financial losses” alleging  Shishi Simwa’s products did not meet their specified requirements, causing decolourisation of their end-products.

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