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Serial System CEO assisting in 'certain investigations' in Taiwan
SERIAL System's executive chairman and group chief executive Derek Goh Bak Heng has been called upon by the Taiwanese authorities to assist in certain investigations under the Securities and Exchange Act of Taiwan, the board of the electronics components distributor announced on Thursday before the market opened.
His assistance was requested by the Taipei District Prosecutors Office and the Investigation Bureau, Ministry of Justice of Taiwan.
The company's board said in a statement that it was unclear what the investigations were about, adding that "no other person in the company" had been requested to assist in the investigations.
"The board of directors wishes to emphasise that the business and operations of the company and Dr Derek Goh’s roles and responsibilities as executive chairman and group CEO therein are not affected in any way by the matter and will continue as usual," the statement said.
Serial System's counter retreated 1.33 per cent or 0.2 Singapore cent as at Wednesday's close to end at 14.8 Singapore cents.