SBI Offshore files CAD report, beefs up board ahead of shareholder revolt
Report is in relation to the purchase and sale of a 35% stake in a China company
Add BT as a preferred source
Anita Gabriel
Singapore
AHEAD of a crunch shareholder vote on a boardroom shakedown on Friday, SBI Offshore has muscled up its board with four new members and lodged a report with Singapore's white-collar crime buster on a possible breach of securities laws and other offences.
The report lodged with the Commercial Affairs Department (CAD) is in relation to the purchase and sale of a 35 per cent stake in China-incorporated Jiangyin Neptune Marine Appliance Co (NPT), said SBI Offshore chairman Mirzan Mahathir in an announcement to the Singapore Exchange.
TRENDING NOW
That ‘cheap’ Malaysia condo could cost Singapore buyers far more than they think
On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart
These little-known SGX tech stocks are beating the market. What’s driving them up?
Genting Singapore shares drop 8% after Q1 earnings fall
