The Singapore Exchange has released a blacklist of 10 former directors who have breached SGX listing rules.

The former top managers named were from Oriental Century, China Printing and Dyeing Holding, Oculus, Advance Modules Group, Automated Touchstone Machines and Zhongguo Jilong.

SGX says former CEO Wang Yuean of Oriental Century did not act in the interest of the company’s shareholders. He also failed to ensure that the company submitted accurate information to the exchange and disclosed material information on a timely basis.

Former CEO Tao Shoulong and former deputy CEO Yan Qi of China Printing and Dyeing Holding were also named for failing to act in the interest of shareholders and for not ensuring the company disclosed material information on a timely basis.

Ex-executive director Low Shiong Jin of Oculus was also ticked off by the SGX for failing to ensure the company submitted accurate information to the exchange and for failing to ensure the company disclosed and obtained shareholders’ approval on a material interested person transaction among other breaches.

Based on its assessment of the severity and extent of the breaches, SGX says the individuals mentioned in the list did not demonstrated the qualities expected of directors and management of SGX-listed companies, as required under Listing Rules 210(5)(b) and 720.

Listing Rule 210(5)(b) mentions the character and integrity of directors, management and controlling shareholders of the issuer, and Listing Rule 720 requires compliance on a continuing basis.

SGX says locally-listed companies can no longer hire these individuals as directors without the its permission.

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