Hi,
moomoo ID:NaN
Log Out
English
Back
Log in to access Online Inquiry

Ex-Directors Asks Shanghai Turbo to Pay Director Fees for 2020

MT Newswires ·  {{timeTz}}

01 :10 AM EDT, 07/08/2022 (MT Newswires) -- Shanghai Turbo Enterprises (SGX:AWM) has been served with a letter of demand from three of its ex-directors, requesting for 704,362 yuan ($105,031) worth of outstanding director's fees for the financial year 2020.

The letter of demand stated that the amount is due to the directors, Huang Wooi Teik, Koh Wee Kiang, Lee Kiang Piaw and Wong Kee Hau, relating to the professional services rendered for the financial year ended Dec. 31, 2020, according to a late Thursday disclosure.

The directors have threatened to start formal proceedings against the company if the claimed outstanding amount is not paid by July 11.

However, the precision engineering group has stated that it cannot pay the asked amount by July 11 as the shareholders had voted against the payment of director fees for 2020.

Price (SGD): S$0.17, Change: S$0.00, Percent Change: 0.00%

This presentation is for informational and educational use only and is not a recommendation or endorsement of any particular investment or investment strategy. Investment information provided in this content is general in nature, strictly for illustrative purposes, and may not be appropriate for all investors. It is provided without respect to individual investors’ financial sophistication, financial situation, investment objectives, investing time horizon, or risk tolerance. You should consider the appropriateness of this information having regard to your relevant personal circumstances before making any investment decisions. Past investment performance does not indicate or guarantee future success. Returns will vary, and all investments carry risks, including loss of principal. Moomoo makes no representation or warranty as to its adequacy, completeness, accuracy or timeliness for any particular purpose of the above content.

Moomoo is a financial information and trading app offered by Moomoo Technologies Inc.
In the U.S., investment products and services available through the moomoo app are offered by Moomoo Financial Inc., a broker-dealer registered with the U.S. Securities and Exchange Commission (SEC) and a member of Financial Industry Regulatory Authority (FINRA)/Securities Investor Protection Corporation (SIPC).
In Singapore, investment products and services available through the moomoo app are offered through Moomoo Financial Singapore Pte. Ltd. regulated by the Monetary Authority of Singapore (MAS). Moomoo Financial Singapore Pte. Ltd. is a Capital Markets Services Licence (License No. CMS101000) holder with the Exempt Financial Adviser Status. This advertisement has not been reviewed by the Monetary Authority of Singapore.
In Australia, financial products and services available through the moomoo app are provided by Futu Securities (Australia) Ltd, an Australian Financial Services Licensee (AFSL No. 224663) regulated by the Australian Securities and Investment Commission (ASIC). Please read and understand our Financial Services Guide, Terms and Conditions, Privacy Policy and other disclosure documents which are available on our websites https://www.futuau.com and https://www.moomoo.com/au. Moomoo Technologies Inc., Moomoo Financial Inc., Moomoo Financial Singapore Pte. Ltd. and Futu Securities (Australia) Ltd are affiliated companies.