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BELLAGRAPH Nova Group (BN Group) co-founder Terence Loh has resigned from the newly formed company, which was recently thrust into the spotlight for doctored photos of Barack Obama in its marketing materials.
He and his cousin Nelson Loh have also agreed to legally separate all their business interests.
Mr Terence Loh’s resignation comes as Novena Global Healthcare Group (NGHG) – founded by the scandal-hit Singaporean duo – is under police investigation over allegedly unauthorised signatures on some of its financial statements.
At close to 1am on Wednesday, BN Group issued a statement saying that Mr Terence Loh “is trying to solve the problems” arising from the probe into NGHG, and they thus “mutually agreed” that he should quit.
NGHG is not part of BN Group, the latter noted. The company added that it “has never consolidated or is by any chance linked to” NGHG and the alleged forgery in the financial statements.
Mr Nelson Loh is also a co-founder of BN Group, alongside Chinese business partner Evangeline Shen. The whereabouts of Mr Nelson Loh in recent weeks are not known, and he was not mentioned in BN Group’s statement on Wednesday.
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