Hyflux's former CEO, CFO and independent directors charged with offences under SFA and CA

DBS bank was also probed for its role as issue manager in Hyflux's 2011 fundraising but no further action will be taken.

Hyflux’s former chief executive officer (CEO), chief financial officer (CFO) and four independent directors were charged in court on Nov 17 for disclosure-related offences under the Securities and Futures Act (SFA). CEO Lum Ooi Lin (also known as Olivia Lum) was also charged with an offence under the Companies Act (CA).

Further to its statement, the authorities revealed that they have also investigated DBS Bank for its role as issue manager in the 2011 OIS offer, but no further action will be taken.