Maoye Chief Denies Reports of Probe

Huang Maoru, the chairman of Maoye International Holdings, has denied reports that he has been under investigation by mainland authorities and reveals that his company has applied to resume trading, says the South China Morning Post.


The Post notes that shares in the Shenzhen-based department store operator were suspended on December 16 after Chinese media reported that Huang and his younger brother were implicated in the criminal investigations involving Wong Kwong-yu, the former chairman of Gome Electrical Appliances Holding, and former Shenzhen mayor Xu Zongheng.


In a filing made to the Hong Kong stock exchange yesterday, Maoye's board says Huang had confirmed to them that the allegations were not true and that he intends to resume his duties as chairman and chief executive of the company.

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