PRESS DIGEST - Singapore newspapers - Aug 28
SINGAPORE, Aug 28 (Reuters) - The following are stories from Singapore newspapers on Thursday. Reuters has not verified these stories.
THE STRAITS TIMES
- Furniture firm Chuan Soon Huat Industrial's (CSHI.SI) Managing Director Lee Thian Soon and four former directors were charged under the Companies Act for failing to notify authorities about a change in effective control of the firm. The firm listed Lee Tian Teck as executive chairman in its 2004 and 2005 annual reports even though he had suffered a stroke in December 2003 and did not attend a board meeting thereafter.
- The Singapore Exchange (SGXL.SI) has told firms to keep the periods of share suspension brief
- The number of cars in Singapore rose 8.1 percent from a year ago to 539,540 at the end of July despite higher fuel prices and government efforts to reduce vehicle numbers and ease road congestion, according to the Land Transport Authority.
BUSINESS TIMES
- Tang Wee Sung has resigned as executive chairman of retailer CK Tang CKTS.SI after pleading guilty to trying to buy a kidney and lying under oath. Tang, who will be sentenced on Sept 3, faces a fine of up to S$10,000 ($7,047) and/or a maximum jail term of one year.
- Saizen Real Estate Investment Trust (SZNR.SI), which owns residential properties in Japan, said it will put new acquisitions on hold to conserve cash amid the credit crunch.
