On Nov 11, Kimly’s executive chairman Lim Hee Liat and its executive director Chia Cher Khiang have each been charged by the Commercial Affairs Department (CAD) for an offence under Section 331 (1) of the Securities and Futures Act (SFA).

The charges against Lim and Chia were in relation to Kimly’s failure to notify the Singapore Exchange Limited (SGX) that its acquisition of Asian Story Corporation was an interested person transaction. The acquisition of ASC has since been rescinded.

See: Kimly's executive chairman and executive director charged by CAD

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