Hong Kong Securities Clearing Company (HKSCC), a wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited, today (Monday) declared Wing Yip Co. Ltd. (1485) a defaulter under Rule 3702 of the General Rules of CCASS after the Securities and Futures Commission notified HKSCC that it had issued a restriction notice on Wing Yip Co. Ltd. under sections 204 and 205 of the Securities and Futures Ordinance.

Pursuant to its default procedures, HKSCC will effect closing-out of the unsettled stock positions of Wing Yip Co. Ltd. by entering opposite transactions to offset the unsettled stock positions. The effect of this action is to arrive at a net sum payable by or to the defaulting Broker Participant.