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SGX RegCo reprimands former Magnus Energy board; existing directors leaving amid delisting notice

The Edge Singapore
The Edge Singapore • 3 min read
SGX RegCo reprimands former Magnus Energy board; existing directors leaving amid delisting notice
SGX has also directed the company to delist; three of its existing directors will soon step down
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The Listings Disciplinary Committee of the Singapore Exchange has reprimanded Luke Ho Khee Yong, the former CEO of Magnus Energy, along with four other former independent directors, for breaching listing rules in connection with two transactions made under their watch back in 2017.

Besides Ho, the other four former directors reprimanded are: Kushairi Bin Zaidel, former independent director and chairman; John Ong Chin Chuan, former independent director; Ong Sing Huat, former non-independent non-executive director; and Seet Chor Hoon, former independent director.

The LDC has required Ho to provide a signed written undertaking to SGX not to seek any directorship or key executive roles on any SGX-listed entities for two years from March 13 2023.

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