Interim No Signboard Holdings CEO faces allegations of fiduciary breach

Lim Teck-Ean allegedly violated his fiduciary duties in the Dining Haus acquisition.

No Signboard Holdings has received a notice alleging that its interim CEO, Lim Teck-Ean, had breached his fiduciary duties concerning the company's acquisition of a 60.0% stake in Dining Haus.

GuGong served No Signboard Holdings a notice under section 216A(3)(A) of the Companies Act.

In the notice, GuGong requested No Signboard to bring an action against Lim by 11 March. 

In response, the company said its board "views such allegations very seriously and is presently looking into the allegations."

"The Board is obtaining legal advice on this matter and will update Shareholders when there are material developments,” the company said.