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RH Petrogas Limited ( (SG:T13) ) has issued an announcement.
RH Petrogas Limited has completed an independent review, conducted by PricewaterhouseCoopers Risk Services and supported by external legal counsel WongPartnership, into whistleblower allegations involving its Indonesian subsidiaries, resulting in executive summaries of fact-finding and legal opinions being submitted to the Audit Committee. In response, the Audit Committee has begun strengthening governance and internal controls by investing in a secure AI-enabled whistleblowing platform, adopting new whistleblowing and anti-bribery policies, reviewing board and committee terms of reference, and overhauling procurement, hiring, and compliance practices, while also planning to seek further legal advice on potential disciplinary and legal actions, signalling a more robust stance on corporate integrity and regulatory conformance.
More about RH Petrogas Limited
RH Petrogas Limited is an oil and gas exploration and production company operating through subsidiaries including Petrogas (Basin) Limited and Petrogas (Island) Limited in Indonesia, focusing on upstream petroleum activities in the region.
Average Trading Volume: 1,173,444
Technical Sentiment Signal: Sell
Current Market Cap: S$132.1M
For a thorough assessment of T13 stock, go to TipRanks’ Stock Analysis page.