Rebuke of Datapulse's ex-directors leaves shareholders wanting more
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NO ONE blinked last month when the Singapore Exchange (SGX) reprimanded mainboard-listed Datapulse Technology's three former executive directors, including a long-serving co-founder who sold his entire stake and bowed out of the company in 2017, days after he was re-elected as director.
The SGX's Listings Disciplinary Committee (LDC) sanctioned the trio - Ng Cheow Chye (the company's co-founder, former chief executive and deputy chairman), his brother Ng Cheow Leng, and Si Fok Yong - for failing to ensure that the company provided an accurate and clear picture in a circular issued four years ago. Shareholders had at the time been asked to vote on a major disposal of Datapulse's only factory and headquarters at Tai Seng Drive for S$53 million.
It wasn't unthinkable that the public rebuke went largely unnoticed. BKW has seen plenty of drama in the form of unexpected ownership changes, shareholder spats and governance fall-outs.
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