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.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
BHP to decide on future of nickel business by August, trims met coal estimates
South Korea’s LG Electronics plans to raise up to US$1 billion with dollar bonds: sources
Apple CEO to meet Lawrence Wong to wrap whirlwind Asia tour
China reiterates need for steady yuan amid fragile confidence
Singapore loses ‘world’s best airport’ crown to Qatar
Elon Musk stakes fortune on cult following who made him rich