Ron Sim and Osim Send Legal Letter of Demand to Trek 2000 International’s Current and Former Chairmen

The Business Times2024-12-12

Massage chair and appliance manufacturer Osim International and its founder Ron Sim have named the current and former chairmen of mainboard-listed technology company Trek 2000 International : 5AB 0% (...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/1196021864?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-12-12 13:26","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1196021864","market":"sg","top_or_hot":-1,"title":"Ron Sim and Osim Send Legal Letter of Demand to Trek 2000 International’s Current and Former Chairmen","media":"The Business Times","content":"<div>\n<p>Massage chair and appliance manufacturer Osim International and its founder Ron Sim have named the current and former chairmen of mainboard-listed technology company Trek 2000 International : 5AB 0% (...</p>\n\n<a href=\"https://www.businesstimes.com.sg/companies-markets/ron-sim-and-osim-send-legal-letter-demand-trek-2000-internationals-current-and-former-chairmen\">Source Link</a>\n\n</div>\n","source":"bustime_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Ron Sim and Osim Send Legal Letter of Demand to Trek 2000 International’s Current and Former Chairmen</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nRon Sim and Osim Send Legal Letter of Demand to Trek 2000 International’s Current and Former Chairmen\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-12-12 13:26 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.businesstimes.com.sg/companies-markets/ron-sim-and-osim-send-legal-letter-demand-trek-2000-internationals-current-and-former-chairmen><strong>The Business Times</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Massage chair and appliance manufacturer Osim International and its founder Ron Sim have named the current and former chairmen of mainboard-listed technology company Trek 2000 International : 5AB 0% (...</p>\n\n<a href=\"https://www.businesstimes.com.sg/companies-markets/ron-sim-and-osim-send-legal-letter-demand-trek-2000-internationals-current-and-former-chairmen\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":null,"symbol_name":null,"start_time":0,"source_url":"https://www.businesstimes.com.sg/companies-markets/ron-sim-and-osim-send-legal-letter-demand-trek-2000-internationals-current-and-former-chairmen","article_id":"1196021864","we_media_id":null,"thumbnails":[],"rights":{"source":"bustime_highlight","url":"https://www.businesstimes.com.sg/companies-markets/ron-sim-and-osim-send-legal-letter-demand-trek-2000-internationals-current-and-former-chairmen","rn_cache_url":null,"customStyle":"","selectors":"body","filters":"","directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=1196021864","pubTimestamp":1733981174,"columns":[],"sourceInfo":{"source_id":"bustime_highlight","name":"The Business Times"},"weMediaInfo":null,"summary":"Massage chair and appliance manufacturer Osim International and its founder Ron Sim have named the current and former chairmen of mainboard-listed technology company Trek 2000 International : 5AB 0% (","collect":0,"end_time":0,"defaultTopTitle":"businesstimes.com.sg","property":[],"viewcount":null,"language":"en","relate_stocks":{},"translate_title":"Ron Sim和Osim向Trek 2000 International现任和前任董事长发送法律要求函","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"5AB.SI":1.1},"content_text":"Massage chair and appliance manufacturer Osim International and its founder Ron Sim have named the current and former chairmen of mainboard-listed technology company Trek 2000 International : 5AB 0% (Trek) in a legal letter of demand.In a bourse filing on Wednesday (Dec 11), Trek said the executives named are Wayne Tan, the executive chairman, executive director and group president of Trek, and Henn Tan, the founder and ex-chairman, who stepped down in 2018. Henn Tan is the father of Wayne Tan. The letter alleges that Henn Tan made fraudulent misrepresentations which Ron Sim and Osim relied on to purchase shares of Trek in 2015, and that Sim had been treated “unfairly and contrary to his legitimate expectations as a minority shareholder”.Ron Sim is the founder of massage chair manufacturer Osim International. In August 2015, Osim announced the acquisition of 24 million ordinary shares and four million treasury shares of Trek.Legal battle loomingWayne Tan has engaged a legal counsel and “intends to take all appropriate steps to vigorously contest the legal matter”.Trek said its board is of the view that the allegations have no basis and this legal matter is of no relevance to Wayne Tan during the period of share purchase. It added that the Nominating Committee of the board (excluding Wayne Tan) has assessed that he is suitable to continue in his present role.In 2022, Henn Tan was sentenced to one year and four months’ jail for accounting fraud that covered up the company’s dismal financial performance.Legal battle loomingWayne Tan has engaged a legal counsel and “intends to take all appropriate steps to vigorously contest the legal matter”.Trek said its board is of the view that the allegations have no basis and this legal matter is of no relevance to Wayne Tan during the period of share purchase. It added that the Nominating Committee of the board (excluding Wayne Tan) has assessed that he is suitable to continue in his present role.In 2022, Henn Tan was sentenced to one year and four months’ jail for accounting fraud that covered up the company’s dismal financial performance.","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.30.0","shortVersion":"4.30.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1196021864"}