SINGAPORE - The Securities Investors Association , or Sias, is calling for the directors of embattled water treatment firm Hyflux to step down.
The company and its current and former directors are currently under criminal investigation by the police's Commercial Affairs Department, the Accounting and Corporate Regulatory Authority , and the Monetary Authority of Singapore over corporate governance lapses, which includes non-compliance with accounting standards.
Directors involved in the probe include Hyflux's executive chairman Olivia Lum and lead independent director Teo Kiang Kok. Sias is disappointed that the company's board has on numerous occasions failed to respond to questions that the association raised on behalf of retail investors, Mr Gerald added.
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Singapore launches investigation into embattled water firm HyfluxSingapore authorities said on Tuesday they had launched an investigation into water treatment firm Hyflux and its current and former directors for suspected false and misleading statements and disclosure breaches. The investigation follows a review into Hyflux-related disclosure, and compliance with Yes. Finally. There had better be no cover ups cos shit wil get blown wen one party is out of power. BWAHAHAHA
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CAD, MAS and Acra open joint probe into HyfluxTHE Commercial Affairs Department (CAD) of the Singapore Police Force, the Monetary Authority of Singapore (MAS) and the Accounting and Corporate Regulatory Authority (Acra) have launched a joint investigation into Hyflux and its current and former directors for suspected false and misleading statements and breaches of disclosure requirements under the Securities and Futures Act, as well as non-compliance with accounting standards under the Companies Act. Read more at The Business Times.
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CAD, MAS and Acra launch joint probe into Hyflux and its directorsHYFLUX and its current and former directors are under investigation by the authorities for suspected false and misleading statements and breaches of disclosure rules that may have taken place over a period of years. Read more at The Business Times.
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Middle East investor Utico says it ‘remains committed’ to rescue deal despite Hyflux criminal probeSINGAPORE: United Arab Emirates utility firm Utico said it 'remains committed' to a S$400 million rescue deal with Hyflux, a day after authorities ...
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Hyflux and its directors, including Olivia Lum, under criminal investigation for corporate governance breachesSINGAPORE - Troubled water treatment firm Hyflux is under criminal investigation for false and misleading statements, as well as non-compliance with accounting standards, the authorities said on Tuesday (June 2).. Read more at straitstimes.com. Either these people have been delaying any deals so that they can maintain their paychecks or they are incompetent. I think it's a combination of both. 🤣🤣🤣 Amazing Company.Rosy on the outside.
Source: The Straits Times - 🏆 8. / 63 Read more »
Acra says it is inspecting KPMG's audit of HyfluxTHE accounting watchdog is inspecting the audit work done by KPMG for Hyflux, as part of a larger probe into the water-treatment firm's compliance with accounting and auditing standards between 2011 and 2018. Read more at The Business Times. The Auditor gets audited.
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