S-chips/China Sky/Oceanus

S-chips/China Sky/Oceanus: Here is a snippet on Lai Seng Kwoon, who just resigned as independent director of China Sky, following the company’s refusal to comply with SGX’s directive to appoint a special audit to investigate a failed land acquisition in China among other issues. Interestingly, Lai also held past directorships in China Sun, Celestial, China Milk, Oriental Century and Sino Construction, which either incurred large write-offs or were involved in financial troubles/irregularities or fraud.

Lai is currently an independent director of Oceanus. Coincidently, apart from Celestial, the IPO manager of the other 6 companies was HL Bank.