S'pore rules ex-Amcol leaders

S'pore rules ex-Amcol leaders

SINGAPORE (Bloomberg): A Singapore court has found three former directors of the failed Amcol Holdings Ltd. guilty of failing their duties as directors in exercising reasonable diligence in relation to a loan and remittances to an Indonesian venture, the Straits Times said Saturday, citing district court judge Koh Juat Jong.

The three are: Robin Kang Thian Leng, Chng Heng Tiu and Johnny Kesuma. They were acquitted of seven other charges, and none was disqualified from company directorships, the report said.

Trading in Amcol shares was halted July 1996 when it could not pay its debts and the company was subsequently acquired by Indonesia's Sinar Mas group, which renamed the company Asia Food & Properties Ltd.