SINGAPORE (Mar 22): Three independent directors of Camsing Healthcare have resigned from their posts with immediate effect, citing concerns that auditors have “raised certain matters” arising from their audit work, which has come to a standstill pending the resolution of their questions.
On Thursday, Camsing announced that its independent Kenneth Chin Hock Raphael Lau (aged 53), Maurice Tan Huck Liang (50) and Ong Wei Jin (52) had resigned with effect from Mar 20.
All of them cited the same personal reasons – while also urging the management to address the auditors’ questions, and any other related matters and concerns, so that the audit may continue in a timely manner.
Tan had been chairing the audit committee, with the other two as members.
All three had been serving as the company’s independent directors since 2015.
In January, SGX named Camsing Healthcare as one of the five best performers of the iEdgeSG All Healthcare Index in 2018 with a return of 19.5% over the year. The company was bested only by Top Glove, which took the No. 1 spot with a return of 40.6% for 2018.
Shares in Camsing closed flat at $1.07 on Thursday.
