SINGAPORE: Tan Poh Lan, Cordlife’s former Group CEO, has been arrested, along with four directors, in connection with an inquiry into the company’s management of cord blood units.
Cordlife said in a bourse filing early Friday morning (March 22) that it received a notice on March 19 from the police’s Commercial Affairs Department (CAD) and the Monetary Authority of Singapore (MAS) requesting documents and information in connection with an investigation into a Securities and Futures Act offense.
Cordlife stated in the filing that the company understands that the offence is related to potential breaches of the company’s disclosure obligations about the irregular temperatures of a specific cryogenic storage tank, which was first disclosed by the company in its announcement dated November 30, 2023.
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