THE disagreement between Sakae Holdings and one of its non-independent directors Mr Andy Ong Siew Kwee continues, with the board of directors saying that they will robustly respond to each and every allegation - in court.
In a filing with the Singapore Exchange, chairman and chief executive Mr Douglas Foo referred to the allegations made by Mr Ong, which were published in The Straits Times today.
Mr Foo noted that the allegations made by Mr Ong concern matters which are the subject of the legal suits that have been instituted against him by Sakae and Mr Foo.
"The company and Mr Douglas Foo will not engage in any adversarial exchange with Mr Andy Ong through the media. The appropriate forum which the company and Mr Douglas Foo will most robustly respond to each and every allegation of Mr Andy Ong will be in the course of the legal suits and actions that have been instituted against Mr Andy Ong," Mr Foo said in the statement.
This is the latest turn in a series of events that started on Jan 21, when Sakae announced that independent accountants found varoius financial transactions in its associate company, Griffin Real Estate Investment Holdings (Griffin), to be irregular.