Midas audit committee files police report

Singapore

THE audit committee of troubled Midas Holdings has lodged a police report with Singapore's Commercial Affairs Department over a possible breach of securities laws and other offences linked to irregularities in the group's operations in China, it said on Thursday.

"The full extent of the possible breach of securities laws or other offences, or other potential breaches (if any) has yet to be determined. The audit committee will continue to take all necessary actions in the best interests of the shareholders and the group." The audit committee comprises the three independent non-executive directors of the company.