Hong Lai Huat Finds No 'Impropriety' After Former CFO's Allegations; Shares Up 3%

MT Newswires

03/25

Hong Lai Huat (SGX:CTO) concluded its investigation following allegations made by former Chief Financial Officer Lai Seng Fatt in his resignation letter, according to a Tuesday filing with the Singapore Exchange.

According to a previous filing, Fatt was involved in an office dispute with Executive Director Ong Jia Jing.

An independent third-party legal advisor the company had engaged has completed its investigation, concluding that this was a one-off isolated personal dispute between the two individuals. There was no "impropriety" stemming from or in connection with

Lai's cessation as CFO.

Shares of the real estate and property company were up over 3% in Wednesday trading.

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