SINGAPORE (THE BUSINESS TIMES) - Troubled healthcare provider New Silkroutes Group announced on Tuesday night (Oct 20) the appointment of Mr Darrell Lim Chee Lek as acting independent non-executive chairman of the board with effect from Oct 20.
He replaces former chairman Goh Jin Hian, the son of former Singapore prime minister Goh Chok Tong, who resigned amid investigations by the Commercial Affairs Department (CAD) earlier this month.
Mr Lim was appointed to the board of New Silkroutes on Aug 1, 2020, as an independent non-executive director, and became lead independent director this month. As at late July, he was listed as the executive board director of BRC Asia, co-founder of hedge fund Bright Point Capital and non-executive director of XM Studios. He was formerly the head of investor relations at the Singapore Exchange.
Other members of the board include executive director Shen Yuyun, independent non-executive director Vivien Chen Chou Mei Mei, non-independent non-executive director Andrew Chua Soon Kian, and independent non-executive director Alex Chua Siong Kiat.
On Sept 30, the company disclosed that Dr Goh and then finance director William Teo Thiam Chuan were being investigated by the CAD over a possible offence under the Securities and Futures Act.
New Silkroutes said then it understood that the alleged offence was false trading and market rigging to do with past share buybacks and share acquisitions.
Mr Teo has also since quit the company. Another director who has recently left New Silkroutes is Mr Kelvyn Oo, who had been executive director and chief corporate officer until he stepped down on Aug 1. He is also assisting with the CAD probe.
Shares of New Silkroutes closed flat at 8.2 cents on Tuesday, before the announcement.