EuroSports Global’s former CEO Goh Kim San faces investigation by the Commercial Affairs Department
Goh Kim San, the former CEO of luxury car distributor EuroSports Global, was arrested by Singapore’s Commercial Affairs Department (CAD) on December 2 but was released an hour later on a S$50,000 bail. According to the company’s filing with the stock exchange, no formal charges have been laid against Goh at this time. He was asked to report to the CAD’s office for his arrest and has been fully cooperating with the ongoing investigation.
In August, Goh was suspended from his duties as CEO, executive chairman, and director of EuroSports amid an investigation by the CAD. He had voluntarily stepped down from his executive roles but was still expected to lead the company’s relationship with Lamborghini, a key part of the dealership’s business in Singapore. EuroSports Global emphasized Goh’s pivotal role in maintaining the dealership’s relationship with Lamborghini, which he has cultivated over many years.
The company also highlighted the importance of Goh’s leadership in guiding EuroSports through the financial challenges posed by the Covid-19 pandemic. Goh is also tasked with leading the subsidiary’s new electric motorcycle production and grooming future leaders for the company.
EuroSports has complied with a legal order from the CAD and the Monetary Authority of Singapore (MAS) to produce documents relevant to the investigation, which remains ongoing. The company’s shares last traded at S$0.178 on November 19.
