Chairman of Hanwell and Tat Seng declared bankrupt but status not disclosed by firms

Singapore

THE executive chairman of Hanwell Holdings and Tat Seng Packaging Group was made bankrupt in August, but these two Singapore-listed companies have to date not acted on Allan Yap's directorship even though the law prohibits a bankrupt from being director.

Mr Yap was declared bankrupt after the court in Hong Kong granted a bankruptcy petition by creditors over debts of more than HK$685 million (S$121 million) arising out of personal guarantees given by the 64-year-old in respect of the liabilities of Hong Kong-listed Master Glory Group.