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Patrick Chew, former Midas CEO charged for not exercising sufficient diligence as company director

The Edge Singapore
The Edge Singapore2/10/2022 04:00 PM GMT+08  • 2 min read
Patrick Chew, former Midas CEO charged for not exercising sufficient diligence as company director
Midas was once a high-flying investors' favourite.
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Patrick Chew Hwa Kang, former CEO of Midas Holdings, has been charged on Feb 10 under the Companies Act for “failing to use reasonable diligence in the discharge of his duties as a director of Midas.”

If convicted, Chew faces a jail term of up to 12 months or a fine of up to $5,000.

Midas Holdings was a popular stock, with investors taken in by its business of building parts used by China’s fast-growing high-speed rail industry.

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