It was earlier reported that the Commercial Affairs Department (CAD) has already impounded the passport of Goh Chok Tong’s son, Dr Goh Jin Hian (‘CAD impounds passport of Goh Chok Tong’s son but did not arrest him‘, 1 Oct).
In a public disclosure and in response to queries from SGX-ST, public listed company New Silkroutes Group said that Dr Goh, who is its executive director and CEO, is currently “assisting” the CAD with investigations into possible offence under the Securities and Futures Act.
The company added that it understands Dr Goh and another person, its finance director, William Teo, may be the subjects of CAD investigation. “The Company 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,” it stated.
“The Nominating Committee and the Board (with Dr Goh abstaining) are of the view that the investigations or Dr Goh’s and Mr Teo’s assistance in the investigations do not compromise the performance of their professional duties in relation to the Group.”
Still, the company said Dr Goh “retired” as CEO with effect from last Thursday (1 Oct) but continues to remain as a board director of the company.
According to information on SGX website, there were some 90 company announcements related to share buy-backs involving New Silkroutes Group’s shares in the 2 years between Apr 2016 and May 2018.
In any case, the company also announced in May last year the resignation of its Chairman, Ho Sheng. His effective date of resignation was on 25 May 2019. The company stated he resigned due to “health reasons”.
Ho Sheng was appointed as Lead Independent and Non-Executive Director on 24 June 2015 and as Independent, Non-Executive Chairman on 8 December 2016.
And according to an obituary placed on 25 May 2005 in the Straits Times, Ho Sheng is the brother of Ho Ching. That is, he is the brother-in-law of Ho Ching’s husband, Prime Minister Lee Hsien Loong. TOC has confirmed this further with family members.
It’s not known if Ho Sheng has already recovered from his health issues.