First published in Business Times on June 4, 2019 By Mak Yuen Teen In April, (my colleague at the National University of Singapore Business School) Richard Tan and I released a report titled “Avoiding potholes in listed companies”, published by CPA Australia. The report identified 16 warning signs and red flags in corporate governance, disclosure and reporting that had differentiated 33 companies that had run into serious corporate governance or accounting problems, and comparable companies that had not. The study also found 14 other companies that had many of the same red flags and may therefore be at risk of suffering the same fate soon (although we did not name them in the published report). Allied Technologies Holdings was one of them. In the three years leading up to April

This week, the STI ETF opened at $3.260 and closed lower at $3.220. The biggest news this week that has impacted the markets is the US export ban on Huawei. Here in Singapore, Eagle Hospitality Trust’s lacklustre IPO has been amongst the news, along with Allied Tech’s missing funds. Read Also: 4 Stocks This Week (US-Play S-REITs) 10 May 2019 – Kep-KBS REIT; Manulife REIT; ARA HTrust; Ascott REIT Allied Tech (SGX: A13) Allied Tech is a precision engineering that has been all over the news in recent days due to missing funds of $33 million. Allied Tech held funds of $33 million in an escrow account with law firm JLC Advisors. However, the entire $33 million has gone missing after an unauthorized payout by a lawyer that is uncontactable. As a result of these missing funds, Allied Tech w