H2G Green’s chief executive officer Lim Shao-Lin will be facing trial at the State Courts on Aug 5, 2024, after being charged on Oct 31, 2023.
The Catalist-listed investment holding company said on Thursday (May 2) that it was informed of the developments on Apr 26, and that Lim did not notify its board of the matter earlier due to “inadvertent omission”.
The charges Lim faced under the Employment of Foreign Manpower Act (EFMA) are for making false statements to the Controller of Work Passes from around November 2018 to November 2020 regarding the employment of three individuals.
One of the charges in Lim’s case pertains to H2G Green’s former chief investment officer, Wei Hua, who was employed by the company from October 2019 to October 2022.
Other charges are regarding two other individuals employed by Gashubin Engineering: Yu Huajie, who was a regional marketing manager, and Lu Linjin, a sales and marketing manager, at the relevant time.
Gashubin is a wholly owned subsidiary of Gashubunited Holding, which is a controlling shareholder of H2G Green with an estimated 31.79 per cent interest. However, Gashubin Engineering is not a subsidiary or entity within control of H2G Green.
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Lim is a director of Gashubunited and also holds about 60.25 per cent of shares in the company.
In September 2023, H2G Green announced that Lim had been arrested for an offence under the EFMA, and had surrendered his passport to the Ministry of Manpower (MOM).
H2G Green said in its latest announcement that other than Lim, none of its directors or key management personnel have been ordered or requested to assist in MOM’s investigations.
It clarified that the company itself was not charged regarding the matter concerning Wei Hua, nor was it involved in matters concerning the former Gashubin employees.
H2G Green said that having considered Lim’s character and integrity, its nominating committee has deemed him suitable to continue carrying out his duties as a director of the board, and as the executive director and chief executive of the company.
“Mr Lim’s trial has not commenced, and the court has not delivered any verdict on this matter. In the circumstances, the nominating committee will continually assess Mr Lim’s character and integrity as the matter develops,” it said.
The group also highlighted that Lim is the founder and a key management executive of its renewable and sustainable energy business segment, which is in its growth stage.
Lim was also considered “instrumental” in establishing and maintaining the group’s relations with investors, business partners, customers and other stakeholders.
Shares of H2G Green : 5AI 0% were trading 8.3 per cent or S$0.001 lower at S$0.011 as at 9.35 am on Friday.
