IHC shareholder coup: Police report filed against ousted executive director

Ousted International Healthway Corp (IHC) directors (from left)  Mr Jojo Alviedo, Mr Lim Thien Su Gerald, and Ms Lim Beng Choo at the extraordinary meeting on Jan 23, 2016 at Maxwell Chambers. Also present was Mr Yoong Nim Chor, IHC legal adviser (se
Ousted International Healthway Corp (IHC) directors (from left) Mr Jojo Alviedo, Mr Lim Thien Su Gerald, and Ms Lim Beng Choo at the extraordinary meeting on Jan 23, 2016 at Maxwell Chambers. Also present was Mr Yoong Nim Chor, IHC legal adviser (second from right). ST PHOTO: Marissa Lee

SINGAPORE - A day after the long-drawn fight for control at International Healthway Corp (IHC) ended in a board overthrow, the new leadership filed a police report against ousted executive director, Ms Lim Beng Choo.

The new board of the medical property developer said in a statement to the bourse early on Tuesday (Jan 24): "When members of the interim transition committee and Data Management Corp arrived at the company's premises at 2 Leng Kee Road, Thye Hong Centre, Singapore, at around 8:20 pm (on Monday), Ms Lim Beng Choo was seen leaving the premises with her computer and some documents. The company has lodged a police report on the aforesaid matter."

Ms Lim's executive functions and powers had been suspended, the statement added, and she had been directed to render assistance to the new board, comprising three directors - Mr Roger Tan, Mr Eric Sho and Mr Jackson Tay - who were put up for nomination by substantial shareholder and Oxley deputy chief Eric Low and voted in on Monday.

 

The board has also formed an interim transition committee and appointed Data Management Corp to conduct an internal audit of the company's affairs, it said.

Data Management Corp has been tasked to "protect, secure and preserve the company's records and financial information", the filing said.

The interim transition committee, comprising Mr Tay and Mr Foo Yong How, who was on Monday named IHC general manager, is also preparing a report to the new board on the company's "financial position, business and operational status, status of legal proceedings commenced by and against the company as well as any other issues or areas of concern".

IHC called for a trading halt on Tuesday, pending an announcement.