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Ayondo ordered to provide information for investigation in possible Securities and Futures Act breach

CATALIST-LISTED Ayondo has been ordered by the Monetary Authority of Singapore to provide certain information and documents in relation to an investigation into a possible offence under the Securities and Futures Act, the board disclosed on Thursday.

In addition, independent director Foong Daw Ching and non-executive director Foo Fatt Kah have attended interviews conducted by MAS in conjunction with the Commercial Affairs Department (CAD) in relation to the investigations, said Ayondo in a bourse filing.

Ayondo said that it will cooperate fully, and will give updates as and when there are further significant developments on the matter.

Dr Foo and Mr Foong also sit on the boards of several other companies.

Dr Foo is a non-independent, non-executive director of Catalist-listed miner Anchor Resources.

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Mr Foong is an independent director of luggage retailer Travelite Holdings, Chinese property developer Starland Holdings and pharmaceutical company Suntar Eco-city. 

The boards of the companies said in separate bourse filings on Thursday that they have been informed of Dr Foo’s and Mr Foong’s interviews with MAS and CAD. 

All four companies added that the investigation is not related to them, and therefore will not affect their business and operations. 

In addition, based on information available as at Oct 1, Anchor Resources’ board is of the view that Dr Foo’s performance of his duties as a non-independent, non-executive director will not be compromised by the investigation. 

Likewise, Travelite, Starland and Suntar Eco-city noted that Mr Foong’s performance of his duties as independent director to both companies will be unaffected.

Shares of Ayondo have been suspended from trading since Feb 1, 2019. Shares of Anchor Resources closed on Thursday at 0.7 Singapore cent, up 0.1 cent or 16.7 per cent while shares of Travelite last traded at S$0.08 on Aug 14.   

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