[ad_1]
SINGAPORE – The former US ambassador to Singapore said he had resigned from the board of a firm in the city-state linked to a group bidding for English soccer club Newcastle United citing “recent revelations” about the group.
Kirk Wagar said he had quit the board of Axington AXIN.SI, a firm listed on the Singapore stock exchange’s junior bourse. Singaporean businessmen and cousins Terence Loh and Nelson Loh are controlling shareholders in the firm and the chairman is Chinese jewellery merchant Evangeline Shen.
The Lohs and Shen are the sole shareholders and directors of newly founded Bellagraph Nova Group (BN Group), which has described itself as a “conglomerate” with turnover last year of $12 billion (S$16 billion) that is in advanced talks to buy Newcastle.
Reuters reported on Saturday that the Singapore-registered BN Group had admitted to doctoring photos of former US President Barack Obama in marketing materials.
BN Group also said some of the information in those materials was released prematurely or contained errors after Reuters found inconsistencies when speaking to firms and persons BN Group says it is involved with.
[ad_2]
Source link
