Jin Xin resigned as ceo in March to be replaced by his daughter Jin Yu, and May 25 it was announced he had resigned as an executive of the company, with Jin Yu’s mother Chu Caixia taking over as non-executive chairman.
In announcement to the Singapore Exchange JES said it had a received a letter from lawyers Colin Ng & Partners on behalf of Jin Xin 2 July disputing his resignation as a director of the company alleging the announcement was false.
“In this regard, the company categorically denies the allegations, and wishes to inform the shareholders that the company had received scanned copies of the resignation documents in relation to Mr Jin Xin’s resignation, including his resignation letter, as well as Mr Jin Xin’s declaration in relation to the announcement to be released on SGXNet regarding his aforesaid resignation, each duly executed by Mr Jin Xin and dated 25 May 2015,” JES.
However, the shipyard group said it did not have the original resignation documents which it says were taken former administrative officer Ju Li Li, who the company is already suing for allegedly “absconding” with company records relating to illegal payments to Jin Xin while he was chairman and ceo of the company.
JES said it had since convened an independent investigation panel which it said Jin Xin had so far refused to cooperate with.
“In these present circumstances, until and unless the resignation documents are proved to be false and Mr Jin Xin’s signatures therein forged, the board is of the view that the Announcement is not erroneous,” JES said. “The board also wishes to categorically state for the record that Mr Jin Xin has ceased to be a director of the company on 25 May 2015.”
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