Kimly: Business as usual after arrest of key directors

Both executive chairman Lim Hee Liat and executive director Chia Cher Khiang will carry on with their duties to ensure the smooth operation of the company

Tay Peck Gek

Published Wed, Dec 5, 2018 · 09:50 PM

kimly

Singapore

COFFEESHOP chain Kimly's executive directors will carry on with their duties while they are out on bail, and their arrest on securities law-related allegations will not affect operations at the coffeeshop chain, the Catalist-listed company said on Wednesday.

Executive chairman Lim Hee Liat told The Business Times on Wednesday - a day after he and executive director Chia Cher Khiang were arrested - that both men will carry on with their duties to ensure the smooth operation of Kimly in the meantime.

"We want to assure everyone that Kimly's day-to-day operations remain unaffected, and our team remains focused on delivering Kimly's growth and expansion plans," Mr Lim said.

Mr Lim and Mr Chia were arrested by the Commercial Affairs Department (CAD) on Tuesday for having been concerned or reasonably suspected of being involved in an offence under Section 199 of the Securities and Futures Act, which pertains to false or misleading statements. A criminal breach under this section carries a prescribed punishment of a fine not exceeding S$250,000 or imprisonment not exceeding seven …