If you don’t tell,…

Singapore under seige for F1

The managing director of Chuan Soon Huat Industries Group and four other directors were charged in Court for failing to tell the world that there has been a change in effective control of a public listed company.

Mr Lee Tian Teck, the executive chairman, was not in control of the company for two and half years. But nobody bothered to report the matter to the Authority for that long a time.

The gang of five has thus committed an offence under Section 157(1) and if found guilty, each could face a maximum fine of $5,000 or get the jail hospitality for up to a year.

Obviously, we cannot have a situation where there has been a coup in the government of a country. Amazingly, the gang can keep that a secret for so long in this small island of Singapore.

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