Aside from being called a 'nepo baby,' Goh has drawn criticism for being 'blur' in his capacity as IPP director.
SINGAPORE: Former Singapore Prime Minister Goh Chok Tong’s son Goh Jin Hian is being called a “nepo baby” in online forums after the High Court ruled that he is liable to pay US$146 million plus interest for losses suffered by the now-insolvent marine fuel supplier Inter-Pacific Petroleum .
The court’s decision follows an appeal by Goh against a February ruling that held him liable for breaches of director’s duties and statutory duties. Deloitte & Touche, acting as IPP’s judicial managers and later liquidators, sued Goh to recover the substantial losses, accusing him of gross negligence during his directorship.
Additionally, Justice Abdullah rejected Goh’s defense that the company’s business structure absolved him from needing to scrutinize its financials. The judge asserted, “A director’s duty to make inquiries… is intended to ensure that the director is sufficiently on top of the company’s affairs to prevent the company from entering into a crisis in the first place.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Ex-IPP director Goh Jin Hian failed to take steps to probe firm’s financial position: High CourtJustice Aedit Abdullah also ordered Goh to pay costs of $332,545 plus $94,301 in disbursements.
Read more »
Ex-IPP director Goh Jin Hian ignorant of cargo trading business that was ‘vehicle of fraud’: CourtGoh failed to take 'reasonable steps' when red flags relating to the firm’s financial position arose.
Read more »
'Nepo babies' term too extreme, says Christopher Lee on celebrities' kids joining showbizWhen the children of celebrities enter showbiz, they're sometimes labelled as 'nepo babies'. Actor Christopher Lee finds the term 'a little too extreme' and explained why in a recent episode of his culinary talk show Dishing with Chris Lee Season 2.
Read more »
Natalia Goh is new CEO of Sea’s digital bankpstrongShe succeeds Zheng Yudong, who is transitioning to an advisory role./strong/p pa href="https://sbr.com.sg/leisure-entertainment/news/sea-limited-posts-us23m-net-loss-despite-revenue-growth"Sea Ltd/a has named Natalia Goh as the new Chief Executive Officer of MariBank.
Read more »
Jin Yinji reveals harrowing first date with her husbandVeteran actress Jin Yinji recently shared a story that takes the cake for the most dramatic first date ever. The 76-year-old actress, who relocated to Singapore from South Korea in 1972, recounted in a recent episode of Just Swipe Lah the terrifying first date with Anthony...
Read more »
K-pop boy band BTS member Jin to carry torch for Paris OlympicsThe South Korean star, who completed his mandatory military service in June, will depart for France soon.
Read more »