ISR Capital says chairman's statement at EGM mistranslated

SINGAPORE (Nov 1): Just a day after an extraordinary general meeting, Mainboard-listed ISR Capital announced that a statement forecasting profits in three years by executive chairman Chen Tong had been mistranslated by his Chinese-to-English interpreter.

At the EGM, where shareholders approved ISR's acquisition of a Madagascan rare earths mining asset, an investor had asked Chen when ISR would see profits.

Chen's reply in Mandarin was translated by his interpreter as: "For rare earths, the technology is very fast, once the licence is in place. So the plan is in three years’ time, we should be profitable.”

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