Sinopipe Holdings' General Manager Zhuang Qing resigns

PWC is now investigating discrepancy between the released financial reports and reports to SIAC of certain subsidiaries during the period when he was General Manager.

The Board of Sinopipe Holdings announced the resignation of Zhuang Qing as General Manager for Finance, Investment and Business Development.

Mr Zhuang, 48, resigned on his own accord to pursue other career opportunities, according to a Sinopipe Holdings report.

The Company is currently under special audit by PWC that is aimed to find out the discrepancy between the released financial reports and reports to SIAC of certain subsidiaries for FY2010, FY2009 and FY2008 during which Mr. Zhuang was General Manager responsible for Finance, Investment and Business Development.