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.

"Neither Nelson Loh nor Terence Loh are part of this committee," it said in the statement that was disseminated by TSMP Law on behalf of the NGHG board.

It is believed that the board met on Friday and has been in contact with Mr Terence. The whereabouts of Mr Nelson in recent wee…

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