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Legal officer ‘responsible’ for the compliance of fundraising document named in Olivia Lum’s trial

Legal officer ‘responsible’ for the compliance of fundraising document named in Olivia Lum’s trial

By Swedan Margen

Fashion

Court hears that Joscelyn Tan, Hyflux’s former legal officer for corporate finance, would have been in charge

A former senior legal officer of Hyflux testified that her then colleague Joscelyn Tan was in charge of the legal compliance of the offer information statement released for the issuance of preference shares in April 2011.

Yang Ai Chian was testifying as prosecution witness on Day 17 of the trial, in which the now-defunct water treatment company’s founder and former chief executive Olivia Lum, former chief financial officer (CFO) Cho Wee Peng and four board members are contesting claims of being responsible for Hyflux’s non-disclosure of material information.

Yang was Hyflux’s senior vice-president for legal (business), with responsibilities including reviewing contracts such as the water purchase agreements.

Originally published by businesstimes.com.sg. Syndicated material does not necessarily reflect the views of Grazia British.

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