Singapore O&G settles dispute with former director, will receive S$1.25m

SINGAPORE - Singapore O&G Ltd said on Tuesday (March 6) that its former lead independent director, Christopher Chong Meng Tak, has agreed to pay the company S$1.25 million to settle a dispute.

On Dec 27 last year, Mr Chong resigned abruptly from the board of the women's and children's healthcare group as a result of this dispute.

Details of the dispute were not given, except that it concerned the company's claim for S$1.5 million from Mr Chong in relation to a company transaction in which he was involved.

Mr Chong has since agreed to a full and final settlement on the dispute, without any admission of liability.