SGX RegCo slaps ecoWise with compliance notice, CEO flags concerns on group's management
Regulator voices concerns over 'lack of a strong and independent element on the board'
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
Singapore
SINGAPORE Exchange Regulation (SGX RegCo) on Friday served ecoWise Holdings a notice of compliance to appoint two new independent directors (IDs), commission an internal audit and an audit of its first-half 2021 results, as well as to form a new auditing committee (AC).
Shortly after, executive chairman and chief executive Lee Thiam Seng flagged, in an open letter, more concerns on the group's management under the day-to-day supervision of deputy chief executive Cao Shi Xuan.
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Copyright SPH Media. All rights reserved.
TRENDING NOW
From 1MDB to ‘corporate mafia’: Is Malaysia facing a new governance test?
Middle East-linked energy supply shocks put Asean Power Grid back in focus
Beijing’s calculated silence on the Iran war
DPM Gan warns of 3 structural shifts to the global system that will bring greater challenges – and opportunities
