pstrongThe investigation stemmed from potential breaches of disclosure obligations concerning irregular temperatures in a cryogenic storage tank/strong/p pThe Commercial Affairs Department (CAD) has arrested four directors of Cordlife Group, including its former group chief executive, who were later released on bail, the group confirmed.
CAD arrests Cordlife ex-group chief and four director over alleged breaches of disclosure obligations
The arrested individuals include Ho Choon Hou, acting chairman, non-independent non-executive director; Yeo Hwee Tiong, independent director; Cheong Tuck Yan Titus Jim, independent director; Chow Wai Leong, non-independent non-executive director; and Tan Poh Lan, former executive director and group chief executive officer.
The notice, dated 19 March, served by CAD and MAS, requires Cordlife to provide specific documents and information related to the investigations. Officers from CAD visited Cordlife's office on the same day to collect some of the requested documents. Whilst the majority of the board believes it is in the company's interest for all directors to remain, Zhai and Chen argued that the arrested directors should step down.
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