GS Holdings asked to provide more information for ongoing probe

Ry-Anne Lim

Published Tue, Oct 31, 2023 · 09:36 PM

FOOD and beverage company GS Holdings : 43A 0% has been ordered to provide more documents for an ongoing investigation into offences under the Securities and Futures Act.

It is now required to submit the minutes of all the company’s board and management meetings from Jan 1, 2021, up to today. “The company will provide the Commercial Affairs Department (CAD) with the minutes, and the board and management will extend their full cooperation to assist with the investigation,” said GS Holdings in a bourse filing on Tuesday (Oct 31).

The group announced on Monday that it was ordered by CAD and the Monetary Authority of Singapore to provide documents relating to its chief executive officer Pang Pok.

Pang, who is also the company’s executive director, was arrested by the CAD and is presently on bail, it said on Tuesday. He has surrendered his passport, but he has not been charged and no further conditions or restrictions have been imposed on him. He also has to report to the police station from time to time.

The nominating committee and board, excluding Pang, will continue to monitor the progress of the investigation and reassess its position on the suitability of Pang’s continued appointment as chief executive officer if there are material developments to the probe, said GS Holdings.

Shareholders will be updated on any developments as and when there are any material updates on the investigation, it added.