CIMIC’s Growth an “Illusion” as Market Value Plunges $1.6bn

Construction giant CIMIC has confirmed it is “in compliance with its disclosure obligations” after stocks tumbled by 7% in just two days - representing a decline in value to $14.6 billion on Tuesday, down from $16.2 billion on Friday. The disastrous market loss comes after Hong Kong research firm GMT made explosive claims that CIMIC had inflated its reported pre-tax…