The Business Times
business-time-50

Hyflux independent director charged over neglect in failure to disclose material information on Tuaspring

google-preferred-sourceAdd BT as a preferred source
Tay Peck Gek

Tay Peck Gek

Published Thu, May 4, 2023 · 05:49 PM
    • Lee Joo Hai's alleged neglect resulted in Hyflux on Mar 7, 2011 intentionally failing to notify SGX that the Tuaspring project was an expansion into a new business of selling electricity.
    • Lee Joo Hai's alleged neglect resulted in Hyflux on Mar 7, 2011 intentionally failing to notify SGX that the Tuaspring project was an expansion into a new business of selling electricity. PHOTO: BT FILE

    AN independent director of Hyflux has been charged over neglect which caused the company to omit information relating to Tuaspring Integrated Water and Power Project, in violation of Singapore Exchange (SGX) listing rules.

    The Business Times learnt on Thursday (May 4) that Lee Joo Hai, 67, was charged in March this year with one count of neglect as an independent director under the Securities and Futures Act.

    His alleged neglect resulted in Hyflux on Mar 7, 2011 intentionally failing to notify the bourse that the Tuaspring project was the water treatment firm’s expansion into a new business of selling electricity.

    HyfluxLawsuits

    TRENDING NOW

    Above: Japan Home’s outlet at Eastpoint Mall in Simei. BT visited nine Japan Home stores on Tuesday and found three shuttered and a few others closed for “stocktaking”.

    Japan Home closing outlets; staff say Valu$ taking over operations

    The Sentosa island resort’s gaming licence is due for renewal in the coming months. 

    Marina Bay Sands casino’s winning streak puts pressure on rival Resorts World Sentosa

    The deal for the sale of Scotts Square mall, just off Orchard Road, is said to be in the early stages of being worked out, at a price of about S$320 million.

    Father-and-son duo Raj Kumar and Kishin in exclusive due diligence to buy Scotts Square

    Handled passively, satellite connectivity becomes a service that the telco distributes, while somebody else sets the economics.

    When every phone becomes a satellite phone, what happens to Asia’s telcos?

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More