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Fu Yu Pursuing Claims Against 6 Individuals Amid Probe Into Unit
The Straits Times
|April 03, 2025
Listed components manufacturer Fu Yu is pursuing claims against six individuals, including its largest shareholder Victor Lim, in relation to investigations into its subsidiary Fu Yu Supply Chain Solutions (FYSCS).
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FYSCS was placed under investigation after an internal audit revealed that the unit made one or more unverifiable arrangements regarding a payment of around US$3 million (S$4 million) to a third party, for which services did not appear to have been rendered.
Mr Lim previously made several unsuccessful bids to oust Fu Yu directors, as well as appoint new names to the board, citing the company's "poor performance" as the reason behind his actions.
On April 1, Fu Yu said that the claims are for its acquisition of FYSCS, the purported misuse of FYSCS' resources, and the payment of a pre-paid commission of around US$3 million.
Bu hikaye The Straits Times dergisinin April 03, 2025 baskısından alınmıştır.
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