Cordlife files police report against former employees for potential wrongdoings

SINGAPORE - Cordlife’s board of directors on April 17 lodged a police report over potential wrongdoings, amid an internal probe.

In a bourse filing on April 18, Cordlife said: “Based on the preliminary findings of internal investigations conducted by an external consultant engaged by the Committee of Inquiry, or COI, , and the information available, the COI is of the view that it has uncovered preliminary evidence of potential wrongdoings involving mostly former employees of the group in connection with the Tank A incident.

In the filing, the board said the police report was made without two directors – Mr Zhai Lingyun and Ms Chen Xiaoling. They are nominee directors of Nanjing Xinjiekou Department Store, which has a 20.3 per cent stake in Cordlife. The five remaining tanks, which store about 14,000 cord blood units, have been deemed by the health authorities to be at low-risk of being affected by temperature lapses, and further testing to generate more conclusive resultsThis timeline has been contested by international cord blood banking experts, who said that it can be done in eight to 10 weeks, but Cordlife maintained that the one-year timeline is based on the current testing capacity of qualified labs here that have the expertise for...

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