IHC suspends trading voluntarily 'for time to determine current state of affairs'

The ousted International Healthway Corp (IHC) directors: (From left) Mr Jojo Alviedo, Mr Lim Thien Su Gerald, and Ms Lim Beng Choo, at the fiery extraordinary general meeting, held at Maxwell Chambers, on Jan 23, 2017.
The ousted International Healthway Corp (IHC) directors: (From left) Mr Jojo Alviedo, Mr Lim Thien Su Gerald, and Ms Lim Beng Choo, at the fiery extraordinary general meeting, held at Maxwell Chambers, on Jan 23, 2017.ST PHOTO: MARISSA LEE

SINGAPORE - International Healthway Corporation (IHC) requested to convert its trading halt to a voluntary trading suspension before trading opened on Friday (Jan 27).

This was as IHC's interim transition committee and new board of directors "require time to determine the current state of affairs of the the company", it said in a filing with the Singapore Exchange.

The board of the medical property developer said it is working closely with its legal advisors in its review.

It also said that it would like to clarify that the company had reported the matter involving ousted executive director Ms Lim Beng Choo leaving the office premises with her computer and some documents to the police and requested police assistance.

It said a formal police report will be made in due course.

Ms Lim and the entire former IHC board was voted out on Monday after clashing with shareholders at a fiery extraordinary general meeting.

The new board said on Friday it will continue to keep shareholders updated on any subsequent material developments. In the meantime, those in doubt as to the action they should take should consult their legal, financial, tax or other professional advisers, it added.