YuuZoo clarifies points raised over governance criticism
YUUZOO Corporation on Thursday sought to clarify points raised in a commentary that ran in The Business Times that criticised the tech company's governance issues.
The commentary, written by associate professor of accounting at NUS Business School Mak Yuen Teen, pointed out that less than three weeks after the appointment of RHT Capital (RHTC) as compliance adviser, RHTC's affiliate, RHT Corporate Advisory (RHTCA), was appointed as the replacement share transfer agent. Elizabeth Krishnan, an associate director at RHTCA, also replaced Toon Choi Fan as company secretary.
Professor Mak said it was surprising that there were no separate announcements for the appointment and cessation of the company secretary. Instead, the appointment of Ms Krishnan was bundled with the appointment of RHTCA as share transfer agent.
Responding, YuuZoo said the appointment of RHTCA as the share transfer agent and the appointment of Ms Krishnan as the company secretary happened concurrently and the "bundling" of the announcements was in the interest of efficiency. "For clarity, there were separate titles for each of the appointments."
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
DigitalBridge-backed Vantage said to weigh Hong Kong data centres sale
Vietnam delays launch of new stock trading system
Tesla’s plan for affordable cars takes page from Detroit rivals
Meituan to debut in Riyadh as expansion beyond China quickens
Mapletree Industrial Trust to distribute S$13 million of divestment gains over next 4 quarters
K-pop agency Hybe’s internal strife wipes out 1.2 trillion won