SINGAPORE (Aug 14): Yangzijiang Shipbuilding (YZJ) has confirmed that executive chairman Ren Yuanlin is “currently assisting in a confidential investigation” carried out by certain Chinese governmental authorities.

This comes days after shares in Yangzijiang had plunged amid rumours swirling about certain publications that Ren was caught up in investigations by Chinese authorities for alleged corruption.

Posts in certain stock investing forums had also alleged that Ren, a controlling shareholder of the company, had been “missing for over two months”.

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