Companies Act should do more to protect IDs' independence

I REFER to The Business Times (BT) articles on the arrest of Raffles Education Corporation directors for their failure to disclose to the Singapore Exchange (SGX) a writ issued by a Malaysian bank (eg "The Raffles Education-Oei Hong Leong saga", updated on Feb 24, 2022).

The arrest of the directors must be of great concern to the corporate sector after investigations of the matter by the Monetary Authority of Singapore and Commercial Affairs Department (CAD) under the Securities and Futures Act .

None of the directors have been charged for any offence as yet. They have been freed from detention by posting S$30,000 bail each.