Rocked by allegations, Novena Global Healthcare board takes over running of firm from Loh cousins

Singapore

A GROUP of chafed investors in Novena Global Healthcare Group (NGHG) is moving to guard its interests on concerns about the company's accounts. Among these investors: Sinopharm Capital, the private equity arm of Chinese pharmaceutical giant Sinopharm.

On Friday, NGHG's board shot out a statement that it was "deeply concerned" by recent developments, and has set up a special committee to investigate allegations that the audit signatures on the firm's accounts were forged and to "restructure and scrutinise" its affairs.