SINGAPORE - The lead independent director of listed firm Singapore O&G (SOG) failed to declare a fee of $1.5 million that he later received after it acquired several companies in 2015. Read more at straitstimes.com.
SINGAPORE - The lead independent director of listed firm Singapore O&G failed to declare a fee of $1.5 million that he later received after it acquired several companies in 2015.
In their submissions, the prosecutors said: “Had the directors of SOG known of the accused’s undisclosed interest, they would not have proceeded with the acquisition...without further conditions or questions. Dr Lim later issued a cheque for $1.5 million, which Chong deposited into Paromay’s bank account with Bank Julius Baer on March 18, 2016.
According to court documents, when Chong realised that this payment may be discovered, he instructed his secretary to “never mention Paromay to anyone at SOG ever”.
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