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CEO and deputy's investment in IHC 'personal and independent', says Oxley

REAL estate developer Oxley Holdings on Wednesday clarified that the reported acquisitions in International Healthway Corp (IHC) by its chief executive and deputy CEO are "personal and independent investment decisions".

They added that the purchases do not have "any connection or impact whatsoever" with the ongoing business activities of Oxley.

Catalist-listed IHC, a healthcare services provider, said in a Singapore Exchange filing on Monday that Oxley's CEO Ching Chiat Kwong had bought around 11.01 million more shares in IHC at S$0.08464 apiece on Monday itself, lifting his substantial shareholding to 14.95 per cent.

Oxley's deputy CEO Eric Low See Ching's shareholding in IHC stood at 6.13 per cent as at Sept 25, based on IHC's other bourse filings. That plus Mr Ching's stake would add up to a collective 21.08 per cent.

"The company has also been informed by Mr Ching and Mr Low that contrary to the newspaper articles which erroneously suggest they are acting together in the acquisitions, Mr Ching and Mr Low are experienced and sophisticated investors who absolutely make their own independent investment decisions based on their self evaluated criteria."