PUBLISHED NOVEMBER 12, 2012 Business Times
PACIFIC Healthcare Holdings Ltd has announced that Benny Kwan has been disqualified from acting as a non-executive, non-independent director of the mainboard-listed company.
The company said in a notice to the Singapore Exchange (SGX) website last Saturday that it had discovered that Mr Kwan, 51, was convicted of a misappropriation offence under Indonesian laws and did not serve out the resultant jail sentence.
Mr Kwan, however, has, through his lawyers, denied being convicted of any offence under Indonesian laws, according to the announcement filed by Pacific Healthcare executive director and acting chief executive William Chong.
In the notice to SGX, the Pacific Healthcare board of directors shared that it had obtained a letter from the Central Jakarta Prosecutor’s Office and a legal memorandum from the Indonesian legal counsel. The letter stated that Mr Kwan had not served out the sentence in respect of the offence, which was a prison term of 18 months.