Singapore charged the founder of Hyflux Ltd. and several people linked to the collapsed firm with offences related to the disclosure of information, a step toward resolving one of the nation’s most high-profile corporate scandals.
Olivia Lum, who was the firm’s Chief Executive Officer, was charged Thursday for failing to disclose information related to a water treatment and power project to the exchange as well as during the sale of preference shares to the public in 2011, according to a statement by the police, the Monetary Authority of Singapore and the Accounting and Corporate Regulatory Authority, or Acra.
Olivia Lum in 2006.
Photographer: Munshi Ahmed/Bloomberg
