Brief: Asia Bio Chem announces insolvency
11/03/2016 22:00
March 11 (Reuters) - Asia Bio-Chem Group Corp ABC.CD : * Announces insolvency * Says does not expect to be in a position to complete its year-end audit * Due to continued high cost of corn in China and economic downturn experienced over past 3 years the company has become insolvent * Says has received financial support from beidahuang state farm group * Says Ontario securities commission may issue a cease trade order * Says has been unable to finalize the ongoing negotiations regarding a strategic transaction with beidahuang * Source text for Eikon urn:newsml:reuters.com:*:nCNW3XSv5a * Further company coverage ABC.CD ((Bengaluru Newsroom; +1 646 223 8780))