Wednesday, January 25, 2017 - 05:50

Singapore

FOLLOWING the results of the extraordinary general meeting (EGM) that saw the removal of the entire board of International Healthway Corporation (IHC), a police report was filed against Lim Beng Choo, who was ousted as executive director.

In an SGX filing, IHC said: " When members of the Interim Transition Committee and Data Management Corporation Pte Ltd arrived at the Company' s premises at 2 Leng Kee Road, Thye Hong Centre, Singapore, at around 8:20 pm, Ms Lim Beng Choo was seen leaving the premises with her computer and some documents."

The executive functions and powers of Ms Lim, in respect of all executive appointments with IHC and its subsidiaries, had been suspended, and she has been directed to render assistance to the board of directors, the Interim Transition Committee or their appointed representatives.

 

She is among four board directors who were voted by shareholders to be removed on Monday, along with chairman Gerald Lim, Alviedo Rodolfo Jr San Miguel and Leonard Chia.

 

The Interim Transition Committee, comprising newly appointed board director Jackson Tay Eng Kiat and newly appointed general manager Foo Yong How, has been tasked to prepare a report to the board of directors on IHC' s financial position, business and operational status, status of legal proceedings, as well as any other issues or areas of concern.

To complement the Interim Transition Committee' s review of the company' s affairs, Data Management Corporation has been appointed to conduct an internal audit of the affairs of the company. They have been tasked to " protect, secure and preserve" IHC' s records and financial information.

IHC requested a trading halt on Tuesday. Its shares closed 0.1 Singapore cent lower at S$0.067 on Monday, its last full day of trading.