SGX reprimands Oriental Group, past and present directors

Singapore

THE Singapore Exchange (SGX) has admonished Catalist-listed Oriental Group, as well as eight connected individuals - a current director, six past directors including its former chairman and chief executive officer, and a former group financial controller - for misconduct in relation to three fundraising activities and unauthorised transactions.

The reprimand follows several breaches of listing rules by the company and the individuals, including misleading and inaccurate announcements on the fundraising exercises, unauthorised corporate guarantees extended in favour of interested persons and/or unauthorised interested person transactions, said SGX in a statement on Friday.