DMX strikes off 2 directors from board

Ms Teo, a former DMX CEO, was fired for serious misconduct and negligence last year but remained a director after her termination.
Ms Teo, a former DMX CEO, was fired for serious misconduct and negligence last year but remained a director after her termination.

DMX Technologies Group has removed two directors as they were absent from board meetings for six consecutive months without special leave of absence.

Ms Jismyl Teo and Mr Emmy Wu were removed with immediate effect, said the mainboard-listed digital media and software provider in a Singapore Exchange (SGX) filing on Tuesday night.

Mr Wu had been DMX executive chairman since 2002 until his termination on Sept 7 for negligence, but he remained a director.

This came several days after Ms Teo was fired for serious misconduct and negligence, along with former chief financial officer Skip Tang. Ms Teo also remained a director after her termination.

Ms Teo had joined DMX in 2001 as the chief financial officer and appointed a director at the end of the same year. She rose to be the chief executive in 2006 and held the position until she was suspended in February last year.

Mr Tang and Ms Teo had been arrested by Hong Kong's Commercial Crime Bureau last February and later released on bail.

DMX found irregular accounting practices at two of the company's subsidiaries in 2008 and 2009, and lodged a report with the Hong Kong police.

Shares of the company have been suspended from trading since March last year.

The firm has been granted several extensions from the SGX for the release of its financial results for the 2014 fiscal year and the first three quarters of last year.

It applied for another extension on March 31 as it was unable to meet the deadline to release its 2014 results by that day.

A version of this article appeared in the print edition of The Straits Times on April 07, 2016, with the headline 'DMX strikes off 2 directors from board'. Print Edition | Subscribe