Tan Cher Ting, lead independent director of Japan Foods Holding (Japan Foods) (SGX:5OI
) was interviewed by Commercial Affairs Department (CAD) on Feb 11 in connection with an investigation into an offence under Section 219 of the Securities and Futures Act 2001.
According to Japan Foods, Tan is currently on bail and she has surrendered her passport to CAD. She will be attending further interviews in relation to the investigation as and when required by CAD.
Tan was previously employed at CIMB Bank Berhad, Singapore branch as a director in the investment banking division from 2002 to May 31, 2025.
Japan Foods’ board has been informed by Tan that the above investigation is a personal matter and does not concern the shares nor business activities or affairs of Japan Foods.
Based on the assessment done by Japan Foods’ board and nominating committee (NC), they are of the view that Tan is able to continue to discharge her duties professionally as an independent director.
However, Tan will relinquish her roles as lead independent director and chairperson of the NC to allow the smooth function of the committee.
See also: Quantum Healthcare’s Thomas Tan resigns as CEO
The current audit and risk committee chairman, Jason Lee Soon Sin, will be appointed as the lead independent director.
Trading of Japan Foods’ shares were halted this morning and was last closed at 15.9 cents on Feb 11.
