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IPCO International Limited said that its interim CEO Goh Hin Calm was under arrest by the Commercial Affairs Department (CAD).
In a regulatory filing on Thursday, the group disclosed that it was notified by the interim CEO that he has been taken into custody by the CAD in connection with an investigation.
"Neither Mr Goh nor the CAD has provided the company with any other details," it said. "The group will make further announcements and keep shareholders informed of any developments."