arabtoday
Last Updated : GMT 09:57:19
Arab Today, arab today
Arab Today, arab today

China executive admits Australia insider trading

Arab Today, arab today

Arab Today, arab today China executive admits Australia insider trading

Canberra - AFP

A former vice president of Chinese company Hanlong Mining on Tuesday pleaded guilty in an Australian court to three charges of insider trading. Calvin Zhu admitted making Aus$1.3 million (US$1.36 million) trading in shares while working for three different employers, including Hanlong, after acquiring inside information about proposed takeovers. They included details related to Australian iron ore explorer Sundance Resources and uranium explorer Bannerman, which were both targets of Hanlong. Australia\'s corporate regulator, which brought the charges, said the offences occurred between December 2006 and July 2011, and also related to when Zhu worked for Caliburn Partnership and Credit Suisse. Zhu, who was granted bail on the condition that he surrender his passport, will be sentenced in the Supreme Court on September 7. Allegations have also been made against Hanlong director Steven Hui Xiao, but he fled the country while on bail, leaving his wife behind. Hanlong made a Aus$1.2 billion bid in July last year to take over Sundance, an iron ore, copper and gold miner with projects in central Africa, in which it already holds an 18.6 percent stake. It was approved by Australian regulators in June this year after Hanlong sweetened its offer to Aus$1.65 billion. The Chinese firm also made a $143.4 million play for Perth-based Bannerman, hoping to bag its Namibian uranium assets. Beijing\'s interest in Australia\'s mining firms has sparked intense debate in the country over whether to allow Chinese state-owned entities to increase their control over its resources.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today china executive admits australia insider trading Arab Today, arab today china executive admits australia insider trading

 



Arab Today, arab today
Arab Today, arab today Adidas Originals ‘reinterpreted’

GMT 14:52 2016 Thursday ,01 December

Adidas Originals ‘reinterpreted’
Arab Today, arab today At Milaidhoo Island, Maldives

GMT 08:42 2016 Wednesday ,07 December

At Milaidhoo Island, Maldives
Arab Today, arab today Paris's matchbox apartments

GMT 10:37 2016 Saturday ,24 September

Paris's matchbox apartments
Arab Today, arab today Probe finds coalition 'mistake'

GMT 08:00 2016 Wednesday ,07 December

Probe finds coalition 'mistake'
Arab Today, arab today 'Rookie' Trump must fall into line

GMT 08:02 2016 Tuesday ,06 December

'Rookie' Trump must fall into line
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today The summer school raising aspirations

GMT 12:49 2016 Tuesday ,06 December

The summer school raising aspirations
Arab Today, arab today Vanessa Redgrave makes directing

GMT 10:52 2016 Tuesday ,06 December

Vanessa Redgrave makes directing
Arab Today, arab today Indonesia expands protection

GMT 11:39 2016 Tuesday ,06 December

Indonesia expands protection
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Hyundai allows Saudi journalists

GMT 15:14 2016 Thursday ,01 December

Hyundai allows Saudi journalists
Arab Today, arab today Latest Infiniti QX to compete

GMT 13:16 2016 Saturday ,26 November

Latest Infiniti QX to compete
Arab Today, arab today It's a squeeze, but Paris Impressionist

GMT 12:06 2016 Saturday ,03 December

It's a squeeze, but Paris Impressionist
Arab Today, arab today To battle Japanese whaling fleet

GMT 11:53 2016 Monday ,05 December

To battle Japanese whaling fleet

GMT 12:58 2016 Friday ,02 December

Trump, politics on the mind

GMT 13:00 2016 Monday ,05 December

Dubai Women Establishment delegation

GMT 04:15 2016 Thursday ,30 June

World's largest uncut diamond fails

GMT 13:01 2016 Thursday ,01 December

Green groups pressure Spain

GMT 15:59 2015 Wednesday ,27 May

Seoul elevates gardening to high art

GMT 12:39 2016 Saturday ,26 November

Skin patch could help kids

GMT 13:17 2016 Friday ,25 November

Ajman Tourism launches time capsule

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 09:53 2016 Sunday ,15 May

OMEGA official timekeepers
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Powered and Developed by FilmMatters

Copyright © 2016 Arabtoday

Developed by FilmMatters

© 2016 Arabtoday

arabtoday arabtoday arabtoday
arabtoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabtoday, Arabtoday, Arabtoday