CAO finance chief sentenced in Singapore

Lim pleaded guilty to charges of conspiracy and releasing false information in the Singapore Subordinate Court. In 2004, while serving as chief financial officer, he released false financial statements for the company. He also conspired to mislead Deutsche Bank, which served as the company's advisers for a stock sale shortly before it revealed heavy losses from derivatives trading.

Lim was sentenced to two years for conspiracy and was fined S$150,000 ($92,000) for releasing false information. His superior, former CAO chief executive Chen Jiulin, was charged in June with 15 counts of forgery and concealing financial information. His case comes to trial next month. Three non-executive directors have also been charged.

CAO shares will resume trading at the end of next month, after a rescue plan saw UK oil company BP and the Singapore state holding company Temasek take significant shares in the company.

  • LinkedIn  
  • Save this article
  • Print this page  

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: