H2G CEO to stay in his post for now whilst probe remains pending
SGX-listed H2G CEO and executive director Lim Shao-Lin has not been charged.
H2G CEO Lim Shao-Lin was recently arrested for an offence under the foreign manpower act and posted bail of $10,000, the company’s board said in a statement.
The Board said it complies with the Catalist Rules of SGX’s regulatory body as they considered Lim’s character and integrity to remain in his post and continue with his responsibilities.
“Based on the information available to the Nominating Committee and the Board, the Nominating Committee’s assessment, which the Board concurs (with Mr Lim abstaining), is that pending the outcome of the investigations,” read the statement,
Based on the assessment, the nominating committee said Lim has not yet been formally charged or convicted in court. The investigation is also not linked to H2G.
They added that Lim performed his duties professionally as well as displayed commitment and leadership.
Details of the case
Specifically, the CEO was nabbed for an offence(s) under Section 22(1)(d) of the Employment of Foreign Manpower Act 1990 of Singapore by Yu Huajie, who was convicted and sentenced to imprisonment for providing false information in his declaration to the Ministry of Manpower (MOM). Lim also surrendered his passport to the MOM.
He was ordered to attend the Singapore courts on 5 October 2023 and any further proceedings as directed by the court in relation to the aforesaid matter.
The board also clarified that they are not involved in the matter regarding Yu Huajie and the investigations. Lim is a director of Gashubin Engineering Private Limited.
However, the board said Gashubin is not a subsidiary or entity under/within the control of the Company.
Lim holds over 60.25% shareholding interest in GHPL, and is also a director of GHPL.