Datapulse Technology

Datapulse slapped with writ of summons by ex-directors after partial payment of claim

SINGAPORE (Feb 26): Three former executive directors of Datapulse Technology have commenced legal action against the company for a balance sum of their original demand.

To recap, former directors Ng Cheow Chye, Ng Cheow Leng and Si Yok Fong had filed a Nov 14 letter demanding Datapulse to pay them an aggregate sum of $751,118, which they claimed due to them part of a profit sharing arrangement under their service agreements with the company.

The company paid out $589,000 on Jan 31 after receiving legal advice on the matter.

Datapulse to acquire Seoul hotel for $42.7 mil

SINGAPORE (Dec 17): Datapulse Technology announced that it is acquiring Hotel Aropa, a hotel located in Seoul, Korea, from Hotel Prima Co for a consideration of KRW 35 billion ($42.7 million).

See: Datapulse announces diversification plans with intended acquisition of hotel in Seoul

Datapulse to sell back haircare business Wayco just a year after acquisition

SINGAPORE (Nov 16): Less than a year after its controversial purchase of haircare company Wayco, Datapulse Technology is looking to reverse the deal.

In that time, two entire boards have been changed, and three CEOs have come and gone, opening up debate on corporate governance standards in Singapore.

See: Questioning Singapore's corporate governance standards

Datapulse announces diversification plans with intended acquisition of hotel in Seoul

SINGAPORE (Oct 4): Datapulse Technology is seeking to acquire a hotel located near the Myeongdong district in Seoul, Korea, as part of its plans to expand the company’s core business from optical disc manufacturing to include hotel and hospitality investments.  

In an Oct 3 filing to the SGX, Datapulse announced having signed signed a letter of intent (LoI) for the acquisition with an unnamed private company in Korea on Oct 1.

Datapulse eyes acquisition of KL hotel for diversification into hospitality industry

SINGAPORE (July 17): Datapulse Technology, the optical disc manufacturer which was chided by Singapore Exchange Regulation (SGX RegCo) for buying a shampoo business without proper due diligence, is diversifying into the hospitality industry.

Login to read: Spotlighting recent scandals

Questioning Singapore's corporate governance standards

SINGAPORE (June 29): Poor corporate governance recently became an issue at a number of locally listed companies, both large and small.

Rig builder Keppel Corp was found to have paid bribes to secure contracts in Brazil.

Datapulse shareholders vote in favour of current board

Caption: Minority shareholder Chew Ah Kong urges shareholders to vote against the proposed 1-cent per share dividend.

Sharanya Pillai (Apr 20): The current board of Datapulse Technology successfully dodged an attempt to be ousted on Friday, clearing the way for the company’s controversial diversification plans into the haircare business.

At a raucous extraordinary general meeting of nearly 200 shareholders, shareholders voted against resolutions to oust CEO and executive director Wilson Teng, chairman Low Beng Tin, and independent directors Rainer Teo and Thomas Ng.

Questions remain ahead of Datapulse EGM

SINGAPORE (Apr 19): Datapulse Technology shareholders will decide Friday whether to keep the incumbent board and support its diversification plans, or to bring in new directors led by the dissenting shareholder Ng Bie Tjin @ Djuniarti Intan.

Datapulse shareholder urges board to engage with SGX to address red flags

SINGAPORE (Apr 18): Lim See Yen, a minority shareholder of Datapulse Technology, has sent a letter urging the board to “engage SGX actively” regarding several red flags involving two of the company’s former directors as well as an investment in Raffles Campus.

Datapulse’s current board revealed in an earlier filing on Mar 27 that the company had made a $2 million equity investment in Raffles Campus in 2004, accounting for 47% of the total equity investment of $4.2 million.

Minority shareholder sends open letter to Datapulse board

SINGAPORE (Apr 16): Chew Ah Kong, a minority shareholder of Datapulse Technology, sent an open letter to the company’s board on April 16.

The letter expresses support for a $44 million one-off payout proposed by a group of dissenting shareholders, led by Ng Bie Tjin @ Djuniarti Intan.

See: Datapulse shareholder Intan Ng maintains 20-cent interim dividend plan

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