Serial System CEO gets second Taiwan request to assist with probe

Mr Derek Goh received the request on Wednesday and is seeking advice from Taiwanese legal counsel, said the firm.
Mr Derek Goh received the request on Wednesday and is seeking advice from Taiwanese legal counsel, said the firm.

Serial System's executive chairman and group chief executive Derek Goh has received a second request from the Taiwan authorities to assist with investigations, the electronic components distributor said in a filing late on Wednesday night.

Mr Goh received the request from the investigation bureau of Taiwan's Ministry of Justice on Wednesday and is seeking advice from Taiwan-ese legal counsel, said Serial System.

According to a previous filing on July 31, a first summons was received by Taiwan-incorporated electronic components manufacturer Bull Will, in which Serial System has a 19.02 per cent stake, on June 21. At the time, Mr Goh was in Hong Kong and unable to meet the Taiwan authorities.

In the July 31 filing, Serial System said it had been advised by Taiwanese legal counsel that Mr Goh appeared to be a person under investigation, and that based on media reports in Taiwan, this might be in connection with the investigation of Bull Will personnel related to allegations of insider trading.

No charges had been brought by the Taiwan authorities against Mr Goh, Serial System, Bull Will or any other party related to the company. No one related to the company or Bull Will had been required to appear before a court.

In Wednesday's filing, Serial System said its business and operations, as well as Mr Goh's roles and responsibilities, "are not affected in any way by the matter and will continue as usual". It said it will make further announcements as and when there are any material developments.

A version of this article appeared in the print edition of The Straits Times on September 14, 2018, with the headline 'Serial System CEO gets second Taiwan request to assist with probe'. Print Edition | Subscribe