No Signboard suspends CEO amidst price rigging investigation

The company also put Lim Yong Sim on leave of absence.

No Signboard has suspended all executive duties of its CEO, Lim Yong Sim, who is being investigated for price rigging. 

In a bourse filing, the company announced that Lim has been put on a leave of absence pending the resolution of the proceedings related to his charges.

Lim will remain a company director despite the suspension of his executive duties.

Lim Teck-Ean will serve as interim CEO whilst Lim is on leave. Teck-Ean will also be re-designated as an Executive Director.

“Lim Teck-Ean is familiar with the group's operations as well as the developments relating to the group's trading resumption application, having been a Non-Executive Director of the Company,” the board said.