Post Reply
121-140 of 232
Story sounds like Korean Drama ....... I guess SGX themselves are confused by all the Board Fights going on ! Management could have handled this matter in a better manner rather than cause the share to be suspended .... don' t know for how long !
no bloodbath because susp
noobnub ( Date: 08-Jul-2021 12:53) Posted:
|
What is happening ??? Share suspended ...seems a bit untidy !
Kitchen Culture' s dismissed CEO to explore legal options
LIM Wee Li, who was last week dismissed from his CEO post at Kitchen Culture by the Catalist-listed company' s board, says he does not agree with the decision and will be exploring his options with his lawyers.
In a statement emailed to The Business Times, Mr Lim said: " I understand that the company has terminated my employment as chief executive officer without notice and with immediate effect, on the alleged basis that I have caused the company to be in breach of certain regulations. I do not agree with the company' s decision.
" The allegations against me came on the back of an internal control review of the company. My lawyers have been asking the company for documents to allow me to understand the context leading up to the internal control review of the company. However, the company did not provide the requested documents." Nevertheless, Mr Lim' s responses to the allegations were sent to the company' s lawyers on July 7.
Mr Lim expressed disappointment that Kitchen Culture proceeded to terminate his employment despite his response being sent to the company the same day.
On July 8, Kitchen Culture announced via a bourse filing that its board had on the previous day passed a resolution by a majority of director votes to cease Mr Lim' s employment with immediate effect as the board is of " reasonable opinion" that Mr Lim is in " gross default or grave misconduct" in connection with, or affecting the company' s business.
Following the termination, Kitchen Culture will procure his resignation as a director of the company and all its subsidiaries according to the terms of his employment contract, the company said in the filing.
It also said it has appointed executive director Lincoln Teo as interim CEO to assume Mr Lim' s duties and responsibilities, as well as ensure the group' s operations and businesses continue smoothly.
Chief operating officer Quek Wey Lon and other key members of the management are intact, it added.
Kitchen Culture is in the business of supplying kitchen equipment. It ventured into the fintech industry last year through its partnership with Ooway Technology, which runs an artificial intelligence-based credit management platform.
Kitchen Culture' s dismissed CEO to explore legal options
Lim Wee Li, who was last week dismissed from his CEO post at Kitchen Culture by the Catalist-listed company' s board, says he does not agree with the decision and will be exploring his options with his lawyers.In a statement emailed to The Business Times, Mr Lim said: " I understand that the company has terminated my employment as chief executive officer without notice and with immediate effect, on the alleged basis that I have caused the company to be in breach of certain regulations. I do not agree with the company' s decision.
" The allegations against me came on the back of an internal control review of the company. My lawyers have been asking the company for documents to allow me to understand the context leading up to the internal control review of the company. However, the company did not provide the requested documents." Nevertheless, Mr Lim' s responses to the allegations were sent to the company' s lawyers on July 7.
Mr Lim expressed disappointment that Kitchen Culture proceeded to terminate his employment despite his response being sent to the company the same day.
On July 8, Kitchen Culture announced via a bourse filing that its board had on the previous day passed a resolution by a majority of director votes to cease Mr Lim' s employment with immediate effect as the board is of " reasonable opinion" that Mr Lim is in " gross default or grave misconduct" in connection with, or affecting the company' s business.
Following the termination, Kitchen Culture will procure his resignation as a director of the company and all its subsidiaries according to the terms of his employment contract, the company said in the filing.
It also said it has appointed executive director Lincoln Teo as interim CEO to assume Mr Lim' s duties and responsibilities, as well as ensure the group' s operations and businesses continue smoothly.
Chief operating officer Quek Wey Lon and other key members of the management are intact, it added.
Kitchen Culture is in the business of supplying kitchen equipment. It ventured into the fintech industry last year through its partnership with Ooway Technology, which runs an artificial intelligence-based credit management platform.
Lioncoln Teo is interim CEO...he has more experience in digital and IT side of things..looking forward to more positive things for the Company.
https://sg.linkedin.com/in/lincolnteo
https://sg.linkedin.com/in/lincolnteo
Kitchen Culture board terminates services of CEO on ' grave misconduct'
KITCHEN Culture Holdings on Thursday said it terminated the employment of Lim Wee Li as chief executive officer (CEO) with immediate effect.
The board said in a bourse filing that it was of " reasonable opinion" that Mr Lim is in " gross default or grave misconduct" in connection with, or affecting the company' s business.
The company has appointed executive director Lincoln Teo as interim CEO to assume Mr Lim' s duties and responsibilities, as well as ensure the group' s operations and businesses continue smoothly. Chief operating officer Quek Wey Lon and other key members of the management are intact, Kitchen Culture said.
The board on Wednesday passed a resolution to cease Mr Lim' s appointment by a majority of director votes. Following his termination, Kitchen Culture will procure his resignation as a director of the company and all its subsidiaries according to the terms of his employment contract.
Kitchen Culture is in the business of supplying kitchen equipment. It ventured into the fintech industry last year through its partnership with Ooway Technology, which runs an artificial intelligence-based credit management platform.
In May 2021, it redesignated Ooway director Hao Dongting as its non-executive chairperson and Mr Lim as executive director. Mr Lim was previously the group' s executive chairman.
Kitchen Culture board terminates services of CEO on ' grave misconduct'
Kitchen Culture Holdings on Thursday said it terminated the employment of Lim Wee Li as chief executive officer (CEO) with immediate effect.
The board said in a bourse filing that it was of " reasonable opinion" that Mr Lim is in " gross default or grave misconduct" in connection with, or affecting the company' s business.
The company has appointed executive director Lincoln Teo as interim CEO to assume Mr Lim' s duties and responsibilities, as well as ensure the group' s operations and businesses continue smoothly. Chief operating officer Quek Wey Lon and other key members of the management are intact, Kitchen Culture said.
The board on Wednesday passed a resolution to cease Mr Lim' s appointment by a majority of director votes. Following his termination, Kitchen Culture will procure his resignation as a director of the company and all its subsidiaries according to the terms of his employment contract.
Kitchen Culture is in the business of supplying kitchen equipment. It ventured into the fintech industry last year through its partnership with Ooway Technology, which runs an artificial intelligence-based credit management platform.
In May 2021, it redesignated Ooway director Hao Dongting as its non-executive chairperson and Mr Lim as executive director. Mr Lim was previously the group' s executive chairman.
Catalist-listed Kitchen Culture halted the trading in its shares on Wednesday afternoon, pending an announcement. Its shares last traded 1.2 per cent or 0.1 Singapore cent lower at S$0.08 on that day.
Have seen him appearing on various magazines like the peak, tatler...etc. seems like he' s the kind looking for personal fame. Good to hear fresh blood is taking control over the company.
WBdisciple ( Date: 08-Jul-2021 14:28) Posted:
|
The old CEO, Lim Wee Li, has not been performing over the years...
Good for fresh blood and new team to take over...
Good for fresh blood and new team to take over...
Probably related to this below issued on 23 June 2021:
https://links.sgx.com/FileOpen/210623%20Announcement%20-%20Queries%20regarding%20Trading%20Activity.ashx?App=Announcement& FileID=671993
For the information of the shareholders of the Company, the board of directors (the &ldquo Board&rdquo ) of the
Company wishes to announce that, on 22 March 2021, Baker Tilly Consultancy (Singapore) Pte. Ltd.
(&ldquo Baker Tilly&rdquo ) was appointed by the Audit Committee of the Company (the &ldquo AC&rdquo ) to undertake an
internal control review of the Company (the &ldquo Review&rdquo ) in the area of cash management by the
Management for the Company and its principal wholly-owned subsidiary, KHL Marketing Asia-Pacific Pte. Ltd. following the fundraising exercises completed in 2020 and related matters.
Baker Tilly has presented a draft interim report on the Review on 18 June 2021 (&ldquo Interim Report&rdquo ) to the AC based on its findings to date (including Management&rsquo s responses).
The AC has reviewed the findings of Baker Tilly in the Interim Report and the recommendations of Baker Tilly for remedial works to be done by the Company and in turn has recommended that the Board to adopt the same.
The AC is also in discussions with Baker Tilly about additional agreed-upon-procedures (the &ldquo AUPs&rdquo ) to look further into certain areas based on the observations of Baker Tilly and will update the Board when the AUPs have been finalised.
The Board is presently reviewing the Interim Report. As the Review is ongoing, the Board will make the
necessary further announcements to update shareholders as and when there are material
developments and upon the completion of the Review and the AUPs.
https://links.sgx.com/FileOpen/210623%20Announcement%20-%20Queries%20regarding%20Trading%20Activity.ashx?App=Announcement& FileID=671993
For the information of the shareholders of the Company, the board of directors (the &ldquo Board&rdquo ) of the
Company wishes to announce that, on 22 March 2021, Baker Tilly Consultancy (Singapore) Pte. Ltd.
(&ldquo Baker Tilly&rdquo ) was appointed by the Audit Committee of the Company (the &ldquo AC&rdquo ) to undertake an
internal control review of the Company (the &ldquo Review&rdquo ) in the area of cash management by the
Management for the Company and its principal wholly-owned subsidiary, KHL Marketing Asia-Pacific Pte. Ltd. following the fundraising exercises completed in 2020 and related matters.
Baker Tilly has presented a draft interim report on the Review on 18 June 2021 (&ldquo Interim Report&rdquo ) to the AC based on its findings to date (including Management&rsquo s responses).
The AC has reviewed the findings of Baker Tilly in the Interim Report and the recommendations of Baker Tilly for remedial works to be done by the Company and in turn has recommended that the Board to adopt the same.
The AC is also in discussions with Baker Tilly about additional agreed-upon-procedures (the &ldquo AUPs&rdquo ) to look further into certain areas based on the observations of Baker Tilly and will update the Board when the AUPs have been finalised.
The Board is presently reviewing the Interim Report. As the Review is ongoing, the Board will make the
necessary further announcements to update shareholders as and when there are material
developments and upon the completion of the Review and the AUPs.
Old CEO Lim Wee Li is out...
The board of directors of Kitchen Culture Holdings Ltd. (the &ldquo Company&rdquo and together with its subsidiaries, the &ldquo Group&rdquo ) wishes to announce that, on 7 July 2021, the Board has, after due deliberations passed a resolution by majority of votes (being 4-1) of the Directors with Mr Lim Wee Li being recused from voting, terminated the employment of Mr Lim Wee Li as the Chief Executive Officer of the Company with immediate effect in accordance with the terms of his employment contract as the Board is of the reasonable opinion that Mr Lim Wee Li is in gross default or grave misconduct in connection with or affecting the business of the Company.
The board of directors of Kitchen Culture Holdings Ltd. (the &ldquo Company&rdquo and together with its subsidiaries, the &ldquo Group&rdquo ) wishes to announce that, on 7 July 2021, the Board has, after due deliberations passed a resolution by majority of votes (being 4-1) of the Directors with Mr Lim Wee Li being recused from voting, terminated the employment of Mr Lim Wee Li as the Chief Executive Officer of the Company with immediate effect in accordance with the terms of his employment contract as the Board is of the reasonable opinion that Mr Lim Wee Li is in gross default or grave misconduct in connection with or affecting the business of the Company.
games over time for blood bath
TheDuellist ( Date: 08-Jul-2021 09:39) Posted:
|
What' s the story?
Going by inside news, if there is any, it was down trending before the halt.
Unless a positive news is tightly guarded, I am not optimistic about the re-opening.
Going by inside news, if there is any, it was down trending before the halt.
Unless a positive news is tightly guarded, I am not optimistic about the re-opening.
$Kitchen Culture(5TI.SI) Market halted - What is happening!?
Anyway I was reading through the old stuff - relooked at AREX (asian accounts receivable exchange) launched by Ooway.
It is deem as " a powerful platform to convert international trading companies&rsquo accounts receivable into digital assets, making them more liquid and quickly realizing, and at the same time creating more and more flexibility for all customers Investment options and opportunities."
Think about it of how Robinhood and Coinbase has made so much money as a platform - so Can Arex achieve the same?
Remember, it is mainly in China. So they are more used to invoice financing and the market is huge.
https://www.sgarex.com/#/index
Trading halt
Shot up, as usual queried by sgx
Sold at 97.good fight today. Get some qiuck bucks better.
GreenUP ( Date: 22-Jun-2021 14:30) Posted:
|
20 cts otot?
Today' s High as of now: 0.103
👍
👍