Our Principal, Jeremiah Huang, and Associate, Loh Yu Tong, have successfully advised and assisted SGX-listed furniture manufacturer, Lorenzo International, and its Directors and former CFO, in Listings Disciplinary Proceedings brought by the Singapore Exchange.

Spanning almost 2 years, with much evidence and submissions in between, the matter has finally concluded with an agreement on terms for disposing of the same with “no contest”.

Further to the Resolution Agreement, a public reprimand has been issued to the Company, one of its Executive Directors, Mr. Lim Pang Hern, and its former CFO, Mr. Teo Kok Meng. Mr. Lim and Mr. Teo have also agreed not to seek or be appointed to any directorship on the board of directors, or role as a key executive officer, of issuers whose securities are listed on the Singapore Exchange for a period of 2.5 years and 1 year, respectively.

The team is grateful to have achieved this outcome, and to the Singapore Exchange, its Enforcement and Regulation functions, and to the Listings Disciplinary Committee for their learned consideration and fair-minded approach in bringing this matter to a constructive resolution. Our client remains committed to upholding the highest standards of governance and compliance moving forward.

For more information on this matter, please contact Jeremiah Huang or refer to the media’s widespread coverage (and announcements on SGXNet).

Note: Media coverage and release of this first occurred whilst the team was at their previous firm.