SINGAPORE - Novena Global Healthcare group co-founders and directors Terence Loh and Nelson Loh have agreed to legally separate all their business interests, Mr Terence Loh told The Straits Times on Wednesday morning .
Nelson Loh will transfer all shares he owns in three corporate entities - Singapore-registered Dorr Global Healthcare International, Singapore-registered Rock Star Advisors and Cayman Islands-registered Novena Global Healthcare Group and all its subsidiaries - to Terence Loh for one Singapore dollar. He will also resign as director of these three entities.
Last month, The Straits Times reported that accounting firm Ernst & Young had made a police report regarding allegedly unauthorised audit signatures on some financial statements of Novena Global Healthcare Group. Terence Loh, through his lawyers, has denied any wrongdoing.