China Yuanbang executive chairman Chen Jianfeng under home confinement

SINGAPORE - China Yuanbang Property Holdings said it had recently been notified by the spouse of its executive chairman Chen Jianfeng that he is under home confinement.

In a statement to the Singapore Exchange, China Yuanbang said "Mr Chen is required by Shenzhen City People's Procuratorate of the People's Republic of China to stay at a designated residence since Dec 29 to assist the authority in its investigation in certain private matters".

It noted that these are not connected with the group.

"The company has not received any legal documents in connection with the investigation from any government authority."

Save for the information provided by Mr Chen's spouse, China Yuanbang said its directors are not aware of any other information on the investigation.

There is also no information or evidence that the investigation is related to the property group.

In the interim, the day-to-day operations of the group are being managed by chief executve Zhou Xiaoxiong, who is supported by a senior management team.