Mirzan became a substantial shareholder of SBI Offshore back in Sept 2014 after buying 10.8% of the company via a private placement at 26.05 cents per share.
SINGAPORE (June 12): SGX RegCo is looking into SBI Offshore for potential listing rule breaches as well as potential contravention of directors’ fiduciary duties, following the release of a special audit by RSM Corporate Advisory.
SBI Offshore, whose executive chairman is Mirzan Bin Mahathir, son of former Malaysian prime minister Dr Mahathir Mohamad, has been on SGX RegCo’s sights for years.
