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New Silkroutes tanks 30% after chairman and finance director quit
By Dr Wealth  •  October 16, 2020
New Silkroutes Group (SGX:NSG) announced in regulatory filings on late 15 October 2020 that non-independent, non-executive chairman Goh Jin Hian and finance director Teo Thiam Chuan William have resigned. Dr Goh, the medically-trained son of former Singapore prime minister Goh Chok Tong, was New Silkroutes Group’s CEO from 2015 till 1 October 2020, when he assumed the position of non-executive chairman. Mr Teo was appointed to his role of finance director on 30 April 2018, after the previous chief financial officer and joint company secretary Lim Koon Hock retired after 13 ½ years with the company. These resignations came on the same day its independent external auditor (Deloitte & Touche LLP) announced that it has issued a disclaimer of opinion on the financial statements of the Group for the financial year ended 30 June 2020 (FY2020). This comes on the back of the announcement that the Commercial Affairs Department...
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