Announcement in Relation to Regulatory Actions by SGX and/or Other Authorities::UPDATE ON REQUEST FOR ATTENDANCE BEFORE AN OFFICER PURSUANT TO SECTION 31 OF THE ACRA ACT
Issuer & Securities
CHINA ENVIRONMENT LTD.
CHINA ENVIRONMENT LTD. - SG1Y42946521 - 5OU
Announcement in Relation to Regulatory Actions by SGX and/or Other Authorities
Date &Time of Broadcast
Announcement Sub Title
UPDATE ON REQUEST FOR ATTENDANCE BEFORE AN OFFICER PURSUANT TO SECTION 31 OF THE ACRA ACT
Submitted By (Co./ Ind. Name)
Corp Affairs Mgr
Description (Please provide a detailed description of the event in the box below)
The Board of Directors of China Environment Ltd. (the "Company" ) refers to the Company's announcement dated 13 December 2018 informing the shareholders of the request for attendance before an officer pursuant to Section 31 of the Accounting and Corporate Regulatory Authority Act.
ACRA has conducted investigations against the Company and all persons who were directors after the Company has defaulted in complying with the requirements of Sections 175(1) - Annual General Meeting, Section 197(1) - Annual Return by Companies and Section 201(1) - Financial Statements and consolidated financial statements.
ACRA has sent a Letter of advisory to the former Non-Executive Directors Mr Er Kwong Wah ( "Mr Er" ) and Mr James Kho Chung Wah ( "Mr James" ). The former Non-Executive Directors Mr Er and Mr James have informed the Company that ACRA's investigations has found that although the breaches were committed by the Company during the period of their directorship, there were strong mitigating factors in their favour.
In view of their strong mitigating factors, ACRA has advised that both Mr Er and Mr James hereon exercise due diligence when carrying out their duties as directors.