The Business Times
business-time-50
SUBSCRIBERS

No Signboard interim CEO’s stake in white knight raises conflict-of-interest risk

January Acra filing shows Lim Teck-Ean owns 50% of Gazelle Capital, which in turn owns half of white knight Gazelle Ventures

google-preferred-sourceAdd BT as a preferred source
Uma Devi

Uma Devi

Published Fri, Feb 16, 2024 · 05:00 AM
    • An Acra filing dated Jan 16 indicated that No Signboard's interim chief executive Lim Teck-Ean owns two million shares in Gazelle Capital, translating to a 50 per cent stake in the entity’s share capital of four million shares.
    • An Acra filing dated Jan 16 indicated that No Signboard's interim chief executive Lim Teck-Ean owns two million shares in Gazelle Capital, translating to a 50 per cent stake in the entity’s share capital of four million shares. PHOTO: NO SIGNBOARD

    BELEAGUERED No Signboard could run the risk of a potential conflict of interest, as interim chief executive Lim Teck-Ean is also a substantial shareholder in white knight investor Gazelle Ventures, a source with knowledge of the restaurant operator’s corporate affairs told The Business Times.

    Gazelle Ventures has offered investments into No Signboard, as well as support for its acquisitions and the stock’s resumption of trading.

    According to a Jan 15 filing from the Accounting and Corporate Regulatory Authority (Acra), Lim is a director of Gazelle Ventures, having been appointed on Sep 27, 2012. He had stepped down as its chief executive when he assumed the role of head honcho at No Signboard. 

    No SignboardFinancial resultsCorporate governance

    TRENDING NOW

    Longest-serving chief minister Taib Mahmud’s legacy looms large over Sarawak as a family feud over his estate threatens to expose skeleton’s in the eastern state’s political closet.

    On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart

    Thailand’s target is to export seven million tonnes of rice globally in 2026, but the Middle East war has turned the world topsy-turvy with supply disruptions, high oil prices and economic uncertainty.

    Thai and Vietnamese farmers may stop planting rice because of the Iran war. Here’s why

    Senior Minister of State for Digital Development and Information Tan Kiat How said the government is working with partners who have access to Anthropic's Mythos to understand its capabilities.

    MAS convenes bank CEOs over AI cyberthreats; boards told to own risks, not leave to IT teams

    Electric vehicles and the changed dynamics of mainstream and luxury car segments mean Certificates of Entitlement should not be used to classify cars.

    Is it time to scrap COE categories for cars? 

    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