Blumont Group CEO Lee Tak Meng resigns
Sharon See
THE chief executive of mainboard-listed Blumont Group has resigned, the investment holding company announced on Monday night.
Lee Tak Meng, 62, who was appointed CEO in April last year, is leaving to pursue other growth opportunities, Blumont said in an exchange filing.
His last day with the company is Nov 30, it added, without specifying Mr Lee's replacement.
The group is one of three penny stocks said to have been manipulated, sending its price into a spectacular collapse in 2013. The penny stocks trial is ongoing.
Blumont closed flat at 0.2 Singapore cent on Monday.
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Singapore identifies 7 firms responsible for haze fires, notices issued urging action: Grace Fu
Could stablecoins be the future of money?
Singapore should prepare for prolonged haze until November, says Grace Fu
High Court rules against Julius Baer’s Singapore trust arm in US$50 million family trust dispute
