Sino Forest, the Chinese forestry company fighting allegations of fraud, has delayed publication of its internal review into claims made by research outfit Muddy Waters that triggered a collapse in the company’s share price in June.
An independent committee, which has hired accountants PwC to assist in the investigation, has presented an interim report to Sino Forest’s board but needs more time to complete its work, the company said on Monday in a press release accompanying second-quarter results.
Conclusions of the review had been expected by next month. However, they will now appear by the end of the year, the company said, blaming “the decentralisation of data”.
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