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Friday, October 16, 2020 – 5:50 am
New Silkroutes Group announced that non-independent and non-executive chairman Goh Jin Hian and chief financial officer Teo Thiam Chuan William have resigned.
Dr. Goh resigned to “focus on personal matters and pursue other interests,” while Tan resigned “to devote more time to his personal affairs,” the main-plate healthcare provider announced in regulatory filings Thursday by the night.
The resignations of the two directors of New Silkroutes Group occurred on the same day that it announced in the morning that its auditor Deloitte & Touche had issued a disclaimer of opinion on the group’s financial statements for the fiscal year ended June 30.
Dr. Goh, the medically trained son of former Singapore Prime Minister Goh Chok Tong, was CEO of New Silkroutes Group until October 1, when he took over as non-executive chairman.
He also stepped down as the chairman of the publicly traded Cordlife Group a week ago, but has remained an independent director.
New Silkroutes had said a fortnight ago that Dr. Goh and Mr. Tan were assisting the Department of Business Affairs with the investigations. The company said it understands the alleged offense to be false trading and market manipulation pursuant to Section 197 of the Securities and Futures Act in light of past share buybacks and acquisitions.
Kelvyn Oo is also helping with the investigations. Oo was previously CEO and corporate director of New Silkroutes, but left on August 1.
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