fu yu corp

Lim’s appointment comes after a month-long review 

Reinstatement is in view of his ‘ability to contribute to the group’, says company without further elaboration

The sum claimed by David Seow includes over S$1.8 million in salary and S$200,000 in damages

An interim committee has been set up to oversee all operational matters pending successor search

The subsidiary made unverifiable arrangements for a US$3 million payment

Investigations clarify that the unit’s US$3 million payment to a third party was made for trades that were conducted on its behalf

Gilbert Rodrigues, Ralf Pilarczyk, Yang Zhenrong and Haytham Al Essa have been appointed to the company’s board

The company also says that its day-to-day operations are unaffected by the recent resignation of all its independent directors

Personnel exits leave the board with no independent directors; CEO David Seow remains as sole director