Lum was charged with a count each under the CA’s section 157(1) read with section 157(3) for the approvals of the release of two unaudited financial statements in 2017, both of which omitted the disclosure of US$33.5 million worth of bank deposits, and an unaudited financial statement in 2018 which omitted the disclosure of US$46.5 million worth of bank deposits.
Hyflux’s former CEO was charged in court on May 5 with three additional offences under the Companies Act (CA) following further investigations.
In a joint statement, authorities said Lum Ooi Lin (also known as Olivia Lum) was charged with new offences in her failure to exercise “reasonable diligence” in the discharge of her duties as a director.
