See Hup Seng files police report against two former directors

The board of See Hup Seng said a police report was lodged today on behalf of its wholly-owned subsidiary, Tat Petroleum, against its former directors, Mr Jimmy Tan Thoo Chye and Mr Chan Huan Yong.

The report relates to possible breaches by the former directors of their fiduciary duties under the Companies Act.

Mr Tan was See Hup Seng's managing director until July when he was ousted from the board at a shareholders' meeting.

The ouster also triggered the resignation from Tat Petroleum of Mr Chan and its vice-chairman Bernard Ang. Both men also resigned from their roles as executive directors on the See Hup Seng board.

The meeting also reinstated See Hup Seng founder Thomas Lim as both an executive director and chairman. Mr Lim left the firm following clashes with Mr Tan in March over business strategy.