SINGAPORE: Amid inquiries into the company’s improper management of cord blood units, Cordlife’s Chief Financial Officer, Thet Hnin Yi, has been arrested.
The corporation made this announcement in a bourse filing on Wednesday, March 27. It stated that she had been released on bond following another interview with the police’s Commercial Affairs Department.
According to Cordlife, the company learned from her that the offense for which she was detained and later freed on bond also involves possible violations of the company’s disclosure requirements concerning the abnormal temperatures of a specific cryogenic storage tank, which the company first revealed in an announcement dated November 30, 2023.
The company said on Wednesday that it would be in its interests for Ms Thet to continue as CFO as she has been with Cordlife for 17 years and is “very familiar” with its financial numbers and information.
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