Lawyer of ex-China Sky director calls SGX tyrannous
A former independent director of China Sky Chemical Fibre said the Singapore Exchange was wrong in a previous reprimand.
A Bloomberg report said, "Yeap Wai Kong, one of China Sky Chemical Fibre Co. (CSCF)’s former independent directors, is challenging the Singapore Exchange in court, arguing the bourse was wrong in publicly reprimanding him in December.”
According to the report, Yeap’s lawyer Tan Cheng Han told Singapore’s High Court at the start of a three-day hearing that SGX had been tyrannous in the use of its strength.
The case stemmed from China Sky’s refusal to follow a directive by the bourse to appoint a special auditor last year.
View the report here.