Corporate digest

Ayondo

AYONDO's independent director Lam Shiao Ning has attended an interview conducted by the Monetary Authority of Singapore (MAS) in conjunction with the Commercial Affairs Department.

The market conduct investigations (enforcement department) of the MAS is investigating into a possible offence under the Securities and Futures Act.

Ayondo's nominating committee is of the view that Ms Lam is still suitable to continue as director of the company. The deliberations were made without her involvement.

Earlier, independent director Foong Daw Ching and non-executive director Foo Fatt Kah had also attended interviews with the two agencies.

Metech International

THE Catalist-listed metal dealer's executive director and chief executive Clement Tay Ming Liang has resigned with effect on Oct 16, to "pursue his personal interests".

He was appointed in March this year, when his predecessor quit in view of Metech's "new business direction and investment parameters" after selling its electronic waste management business.

Metech has not found a candidate for the positions.

Acesian Partners

THE High Court has granted the application of the judicial managers and ordered that Acesian Star (S) be wound up.

Acesian Star (S) is a wholly-owned subsidiary of Acesian Partners listed on the Catalist board.

The winding-up of the unit is not expected to have any material impact on the group's consolidated earnings per share or net tangible assets per share for the current financial year ending Dec 31, Acesian Partners noted.

This is due to the majority of the assets and liabilities of Acesian Star (S) having been written off and written back respectively as at Dec 31 last year, and that it was a dormant company with no business activity.