I had been writing about SGX listed EZRA and Triyards Holdings for several years, raising the alarm that corporate governance lapses within the companies needed to be investigated. I was pleased to note that Associate Professor Mak Yuen Teen of the National University of Singapore wrote a series of articles from publicly available information, which would support my concerns (links to articles below). In addition to the comments made below by Professor Mak Yuen Teen, I would add that evidence would suggest that a board member was implicated in a conspiracy to defraud, there were allegations of forgery, the misappropriation of shares and arguably actions which could have led to the manipulation of a share price.
"Based purely on public information, there were arguably failure to disclose material information on a timely basis, false or misleading disclosures, failure to disclose interests in transactions, insider trading, and failure to discharge directors’ duties.
There are also questions as to whether contract wins announced by the companies and the secondary listing of EOL just fifteen months before it started reporting quarterly losses lured investors into buying notes, convertible bonds and shares of the companies." extract
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