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MIE HOLDINGS (01555.HK): The Hong Kong Stock Exchange criticized the company and condemned the non-executive Director and Chairman Zhang Ruilin.
On March 4, Glorious Hudson reported that MIE HOLDINGS (01555.HK) announced that the Stock Exchange criticized: (1) the company; condemned: (2) the company's non-executive director and chairman Mr. Zhang Ruilin; and further directed: Mr. Zhang must complete 21 hours of training. This case involves a director of the company who failed to (1) timely disclose to the company's Board of Directors the lawsuits against him and a subsidiary of the company and the related guarantees provided by that subsidiary (which are transactions that must be disclosed); and (2) promote the company's compliance with the relevant Listing Rules. At the critical time, Mr. Zhang was the company's executive director and
Express News | HKEX - Exchange's Disciplinary Action Against MIE Holdings Corporation and One Current Director
Hong Kong stocks movement | Petroleum stocks continue to decline as OPEC decides to increase production as scheduled. In the short term, oil prices are still affected by tariffs and other factors.
The Petroleum stocks collectively declined. As of the time of writing, China Oilfield Services (00883) dropped 3.02%, priced at 17.32 HKD; PetroChina (00857) fell 2.41%, priced at 5.68 HKD; China Oilfield Services (02883) decreased 1.74%, priced at 6.23 HKD.
Oil Prices Drop To Two-Month Lows On US Fuel Stockpile Build
New U.S. Sanctions Target Iran's Oil Supply Chain Amid Trump's 'Maximum Pressure' Push -- WSJ
Not afraid of pressure from Trump? Traders expect OPEC+ to delay the production increase plan for April again.
Despite Trump pressuring for a price cut, traders generally expect that due to a potential oversupply in the Global market, OPEC+ will postpone the planned monthly production increase set to start in April by one to three months. This is the fourth time since 2022 that OPEC+ has delayed plans to restore oil production.
MIE Holdings Corporation (HKG:1555) Soars 33% But It's A Story Of Risk Vs Reward
