Goh Jin Hian, who took over as chairman of New Silkroutes Group just a fortnight ago, has resigned from this position to “devote more time to personal affairs”. His resignation comes just over a week after he quit as chairman of another listed company CordLife Group.

Goh, son of former prime minister Goh Chok Tong, is in the news recently. He is being sued by the judicial managers of a fuel trading firm Inter-Pacific Petroleum for alleged breach of duties when he was its director. The firm suffered some US$156 million in losses.

<strong>See also:</strong> <a href="https://www.theedgesingapore.com/news/management-corporate-governance/nsg-confirms-chairman-goh-under-cad-probe-appoints-new-ceo"  target="_blank">NSG confirms chairman Goh is under CAD probe, appoints new CEO</a>

Before taking up the chairman role at NSG, he was its CEO. The company, besides an energy trading business, owns a clutch of clinics and also a stake in fabric maker Shanghai Fengwei Garment Accessory.

Earlier on Oct 15, NSG announced that its auditor Deloitte & Touche LLP has issued a disclaimer of opinion over the service agreements involving Shanghai Fengwei, as well as the value of a stake held by NSG in an entity called Thai General Nice Coal and Coke Co.

On Sept 30, NSG confirmed that Goh is one of the directors under probe by the Commercial Affairs Department over a possible offence under the Securities and Futures Act.

NSG has also confirmed that Kelvyn Oo, who quit on Aug 1 as its chief corporate officer and executive director, is also under probe.

NSG “understands that the alleged offence is false trading and market rigging pursuant to section 197 of the SFA in view of past share buy-backs and acquisitions of shares.”

In a separate announcement, NSG said that finance director William Teo Thiam Chuan has also quit, with immediat effect. Teo, who was appointed to this role in 30 April 2018, quit to "focus on personal matters and to pursue other interests."

Goh quits as New Silkroutes chairman amid lawsuit and CAD probe

Singapore 'acutely aware' of global competition to be AI hub, plans to triple AI talent pool to 15,000

MSCI boss warns of climate risks

Keppel to acquire 50% stake in European asset manager Aermont Capital for up to $517 mil

Local banks 'resilient' in 2023, but MAS warns of deteriorating asset quality, climate transition risks

The new kings and queens of content

RHB raises Marco Polo Marine target price to 7 cents on higher earnings seen for FY2025

UOB Kay Hian and CGS-CIMB analysts stay put on IHH Healthcare

CGS-CIMB reiterates Boustead Singapore at 'add' and $1.40

Goh quits as New Silkroutes chairman amid lawsuit and CAD probe

Related News

Highlights

Singapore 'acutely aware' of global competition to be AI hub, plans to triple AI talent pool to 15,000

Related News

OxPay Financial managing director Koh Jin Kit resigns

Briefs: Fed signals higher-for-longer rates; Goldman raises Brent oil forecast to US$100 as rally builds

Kitchen Culture found to have potentially breached listing rules according to special audit report: SGX RegCo