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Singapore O&G settles dispute with former director; to receive S$1.25m
SINGAPORE O&G Ltd said on Tuesday that its former lead independent director, Christopher Chong Meng Tak, has agreed to pay the company S$1.25 million to settle a dispute.
On Dec 27 last year, Mr Chong resigned abruptly from the board of the women's and children's healthcare group as a result of this dispute.
Details of the dispute were not given, except that it concerned the company's claim for S$1.5 million from Mr Chong in relation to a company transaction in which Mr Chong was involved.
Mr Chong has since agreed to a full and final settlement on the dispute, without any admission of liability.