SINGAPORE: Private blood bank Cordlife has requested a suspension in the trading of its shares on the Singapore Stock Exchange ,In a filing on SGX on Monday morning, Cordlife requested a trading halt pending the release of an announcement.that seven of its storage tanks had been exposed to temperatures above acceptable limits, damaging cord blood units belonging to at least 2,150 clients. Another 17,000 clients could possibly be affected.
Following the arrest of its former group CEO, Cordlife’s recently appointed chief executive Ivan Yiu Pang Fai told shareholders that the company would implement strict measures to enhance its operation standards.list of potential non-compliances by May 31. These include ineffective incident reporting frameworks, inadequate training and competence of staff, and the inappropriate storage of cord blood units, among others.by the Foundation for the Accreditation of Cellular Therapy, a global non-profit corporation which conducts inspections and accreditation in cellular therapy.
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