Darco's audit panel calls for deputy chairman to recuse himself from project

Singapore

DARCO Water Technologies' audit committee has recommended that its deputy chairman consider abstaining from deliberations and decisions on a controversial Indonesian waste-management project that he has reportedly been pushing for Darco to invest in.

The mainboard-listed water treatment company, in response to queries from the Singapore Exchange (SGX), revealed on Friday that its audit committee has recommended that deputy chairman Robert Wang Zhi consider recusing himself from discussions and decisions on the Nambo project. Darco added in the statement that the company is awaiting his response.