ISOTeam says independent director in EHT probe can still perform duties

NG Kheng Choo's involvement in the investigation into Eagle Hospitality Trust's (EHT) directors and officers does not compromise her performance of her duties as an ISOTeam independent director.

That was the view of the ISOTeam nominating committee and board, with Ms Ng abstaining, as at Monday, pending the outcome of the ongoing probe.

EHT's managers last Friday said all its current and former Singapore-based directors - including Ms Ng - were arrested and released on bail on Oct 1, on "reasonable suspicion" that disclosure requirements may have been breached.

This was in relation to the joint investigation by the Monetary Authority of Singapore and the Commercial Affairs Department, in connection with suspected breaches of disclosure requirements under Section 203 of the Securities and Futures Act of Singapore.

Ms Ng had joined EHT's board as an independent director on Oct 8, 2019 and resigned on March 16, 2020.

The probe is not related to ISOTeam or its subsidiaries, and thus does not affect the group's business and operations, said the Catalist-listed building maintenance and estate upgrading firm.

Before ISOTeam's announcement, several Singapore-listed companies - OKH Global, IReit Global and UnUsUaL - had likewise separately informed shareholders over the weekend that the probe involved their independent directors who are also current or former EHT directors.

Ms Ng is also a non-executive independent director at property developer mainboard-listed OKH.

ISOTeam shares were trading flat at 14.9 Singapore cents as at 9.44am on Monday.