Yangzijiang Financial Holding targets CPF investment by next week

The company said it regrets the inconvenience it may cause to shareholders.

The board of directors of Yangzijiang Financial Holding Limited, an investment management business, said the decision on whether shares will be included under the Central Provident Fund Investment Scheme (CPFIS) or not will come out by the end of next week.

In April, its parent company, Yangzijiang Shipbuilding Limited, stated that Yangzijiang’s shares will be credited in the CPFIS investors’ investment accounts and that CPFIS Investors may use their central provident fund (CPF) funds to buy shares.

Upon approval, Yangzijiang Financial’s board said shareholders can use their CPF funds to buy shares traded on the SGX mainboard.

The firm said it regrets any inconvenience that this may cause to shareholders whilst the application is pending.

“The Company is very appreciative of the continuous support by the Shareholders and will make the necessary announcement regarding the effective date of the inclusion of the Shares under the CPFIS once the relevant process has been completed,” read the board’s statement.