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Midas' former CEO Chew demands repayment of $3.3 million from company

Management & Corporate Governance

Midas' former CEO Chew demands repayment of $3.3 million from company

Chan Chao Peh Published on Fri, May 11, 2018 / 6:44 PM GMT+8

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SINGAPORE (May 11): Patrick Chew, the former CEO of scandal-plagued Midas Holdings, has sent the company a lawyer’s letter demanding the repayment of nearly $3.3 million.

The sum consists of a $2.9 million loan to the company, with the remaining made up of expenses not reimbursed and salary not paid.

Chew, who left the company with immediate effect on March 22, is also trying to claim salary of $207,000 in lieu of a six months’ notice period under his employment contract with the company.

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