Another Cordlife director arrested amid probe into mishandling of cord blood units

Another Cordlife director arrested amid probe into mishandling of cord blood units

SINGAPORE – Another director of Cordlife has been arrested amid investigations into the company’s storage lapses that led to about 7,500 damaged cord blood units.

In a bourse filing on May 19, the company announced that its non-independent non-executive director Chen Xiaoling was arrested and subsequently released on bail after attending an interview with the police’s Commercial Affairs Department on May 15.

Like the other seven Cordlife leaders who had been arrested over the past few months, Ms Chen was also arrested for potential breaches of disclosure obligations in relation to the irregular temperatures of a cryogenic storage tank.

The other seven are former group chief executive Tan Poh Lan, chief financial officer Thet Hnin Yi, outgoing acting chairman Ho Choon Hou, outgoing independent directors Yeo Hwee Tiong and Titus Cheong, as well as non-independent non-executive directors Chow Wai Leong and Yiu Ming Yiu.

Processes at the company have been in the spotlight after it was revealed on Nov 30, 2023, that cryopreserved cord blood units in seven of its 22 storage tanks were exposed to suboptimal storage temperatures.

It later emerged that Cordlife’s board knew that one of its tanks had temperature lapses months earlier, in February 2023. The company opted not to disclose the issue then, as it assessed at the time that it would have “no material impact” to the company’s financial performance.

The company faced criticism for such behaviour at a recent annual general meeting (AGM) held on May 14.

During the AGM, it also revealed that by May 2023 it had confirmed that cord blood units in one of its tanks were affected. Board members said they had then directed the company’s management to put in place a communications plan to reach out to affected customers.

The company did not address why it had not informed parents in May 2023, and clients learnt about the lapses only when the Ministry of Health made its announcement in November.

In the bourse filing, the company said given that Ms Chen will be overseeing the ongoing work to investigate and address the lapses, it would be in the interest of the company for Ms Chen to continue serving on the board. Cordlife will continue to assess the suitability of Ms Chen to serve on the board.

The company said: “In addition, the board is also in the process of identifying additional independent directors to strengthen the capabilities of the board who can guide the management on effectively rectifying the company’s lapses, address corporate governance issues, lead the board on risk management, and guide the company on outstanding matters with the various regulators.”

OTHER NEWS

24 minutes ago

Everton exclusive: Double deal on the brink but Dyche happy to offload winger in PSR-friendly move

24 minutes ago

'Mysterious monolith' appears in UK after similar sightings in Las Vegas and Wales

24 minutes ago

CNBC TechCheck Evening Edition: June 18, 2024

24 minutes ago

Renewables is the 'cheaper option' as we are already 'well down that path': Qld Premier

27 minutes ago

North Texas first responders mobilize as Gov. Abbott issues disaster declaration for TS Alberto

28 minutes ago

Canada’s senate passes foreign interference bill, now awaits royal assent

30 minutes ago

Liverpool to deliver shock first Arne Slot signing with Wolves raid nearing completion

30 minutes ago

The Colorado Avalanche's Best Active Homegrown Player: Brought to You By Upper Deck

30 minutes ago

A New, First-Of-Its-Kind Reese’s Cup Is Hitting Shelves Now

30 minutes ago

‘Thelma’ is a geriatric ‘Mission: Impossible’ and a total crowd-pleaser

30 minutes ago

Rapper Travis Scott is arrested in Miami on trespassing and disorderly intoxication charges

30 minutes ago

Pharrell Williams drops the highly anticipated LV Spring-Summer 2025 Men’s Collection

30 minutes ago

Florida mayor resigns with mass email to residents alleging corruption in small-town government

30 minutes ago

This new technology for nuclear power could help fuel the AI revolution

30 minutes ago

90s TV star looks ageless nearly 20 years after hit show ended in picture with children

30 minutes ago

Romanian president withdraws NATO candidacy, clearing way for Rutte

30 minutes ago

YouGov shares collapse 37%! What’s going on with this AIM stock?

30 minutes ago

Tributes pour in for maverick TV executive Nkateko Mabaso

30 minutes ago

British No 1 Jack Draper beats reigning Wimbledon champion Carlos Alcaraz at Queen's in straight sets... days after claiming his first ATP Tour title

30 minutes ago

Pound for a pound: Paying obese teens up to £550 to lose weight helps them slim down, experts claim

30 minutes ago

Video: Watch bizarre moment footy star sprays his own genitals in pre-match act that leaves legend of the game stunned

30 minutes ago

Inside the V&A's stellar summer party: Naomi Campbell, Kate Moss, Anthony Joshua and Grace Jones

30 minutes ago

Prince Harry eyeing up 'secluded Georgian home' very near King Charles's beloved house

30 minutes ago

Are there still bargains on the FTSE 100? Here’s what the charts say

30 minutes ago

IMF chief says Europe looks like 'an ideas supermarket' for the U.S., calls for further integration

30 minutes ago

‘Record numbers’ of Australians are sleeping on the streets

30 minutes ago

Could Raspberry Pi be a growth share to buy and hold?

30 minutes ago

Musk Just Spilled Extra Details About the xAI Supercomputer. Super Micro, These Stocks Are Jumping.

30 minutes ago

Paul Maurice makes light of Bill Zito viral water bottle throw following Game 5 loss

30 minutes ago

RFK Jr. fails to qualify for CNN debate, setting up showdown between Biden and Trump

30 minutes ago

Trump to rally in Philly as polls show former prez leading Biden in critical Pennsylvania: ‘We’re all hurting’

30 minutes ago

REVEALED: The £13 Werewolf card game that inspired England's Euro celebrations: 'If you like traitors buy this!

30 minutes ago

King Charles and Queen Camilla arrive side by side at Ascot as Zara and Sophie pull out the stops for Ladies Day

30 minutes ago

Video: Caitlin Clark at the center of WNBA foul controversy AGAIN as fans slam 'joke' officials over call in Fever win

30 minutes ago

Video: Welcome to the Zombie Zone, England fans: Supporters must walk through Frankfurt red light district full of aggressive crack addicts, prostitutes and petty criminals on way to tonight's match

30 minutes ago

A 'history-changing' discovery: 3,000-year-old ship containing wine jugs found 55 miles off the Israeli coast by underwater robots shows ancient seafarers were more daring than previously thought

30 minutes ago

British couple who ran £4m crime gang selling fake Xanax pills around the world from their luxury Thai villa face jail

37 minutes ago

How golf at the 2024 Olympics is different than PGA and LIV formats

37 minutes ago

X boss Elon Musk tempers comments about advertisers as he looks to woo them back

38 minutes ago

Letizia of Spain puts on an animated show of support for husband King Felipe at exhibition marking 10 years of his reign - after claims she had an 'affair' rocked the monarchy