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Datapulse told to alert SGX in advance to possible buys involving Ang Kong Meng

Published Thu, Feb 1, 2018 · 09:50 PM

Singapore

THE Singapore Exchange (SGX) has required Datapulse Technology to notify it in advance of any possible acquisitions involving Ang Kong Meng, the company said on Thursday.

Mr Ang is the vendor of Wayco Manufacturing, a Malaysian company that Datapulse had agreed to acquire.

But the acquisition was proposed without any due diligence done, and used the valuation provided by the vendor - which also happened to be essentially Wayco's sole customer. Mr Ang has also known Ng Siew Hong, the new controlling shareholder of Datapuls…

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