Ipco International's interim CEO taken by CAD for investigation
IPCO International Limited said that its interim CEO Goh Hin Calm was under arrest by the Commercial Affairs Department (CAD).
In a regulatory filing on Thursday, the group disclosed that it was notified by the interim CEO that he has been taken into custody by the CAD in connection with an investigation.
"Neither Mr Goh nor the CAD has provided the company with any other details," it said. "The group will make further announcements and keep shareholders informed of any developments."
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Tesla’s plan for affordable cars takes page from Detroit rivals
Meituan to debut in Riyadh as expansion beyond China quickens
Mapletree Industrial Trust to distribute S$13 million of divestment gains over next 4 quarters
K-pop agency Hybe’s internal strife wipes out 1.2 trillion won
Beijing city to subsidise domestic AI chips, targets self-reliance by 2027
Hong Kong bourse regains favour on hopes of a market revival