Halcyon Agri said Wednesday its major shareholder, Sinochem International, has appointed Credit Suisse (Singapore) to advise on a strategic review of its investment.
“The Sinochem review is not a company’s initiative, and therefore the board is not privy to the nature, status or structure” of the review, Halcyon Agri said in a filing to SGX.
“There have been no assurances that any transaction will materialize or be forthcoming from the Sinochem Review. Shareholders are advised to exercise caution,” the filing said.
It added that it would make announcements if it receives notification from Sinochem on material developments.