Oriental units in China face claims over unauthorised guarantees
Two directors - chairman Wu Dingron and son-in-law Sun Lu - on immediate leave of absence, stripped of authority
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Singapore
ORIENTAL Group said on Tuesday that two subsidiaries in China face legal claims over unauthorised guarantees that had been given for a company linked to two of its directors.
The steel trading and manufacturing company has set up an independent review committee to investigate the matter and the company's options. The two directors, non-executive chairman Wu Dingron and his son-in-law Sun Lu, have taken an immediate leave of absence and have been stripped of all authority at the company.
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