Financial Wire

Hin Sang Group Suspends CEO

-- Hin Sang Group (International) (HKG:6893) said it suspended its chairman and chief executive Pang Siu Hin amid a criminal investigation, according to a Hong Kong bourse filing Wednesday.

Shares of the personal care products maker fell nearly 5% in morning trade Thursday.

Pang is currently held in criminal custody in China, but the alleged matter does not involve the firm or its subsidiaries, Hin Sang said.

Pang's detention will also not have any material adverse impact on the operations or financial position of the group, the firm added.

In the interim, the firm appointed Kwan Lai Man as acting chairperson of the board.

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Hin Sang Group Suspends CEO | Financial Wire