SINGAPORE - Two former directors of Kimly were charged on Friday (Nov 12) with disclosure offences related to the listed coffee shop operator's acquisition of drinks manufacturer Asian Story Corporation (ASC) in 2018. On Friday, the police said the former head of Pokka International was also charged with disclosure offences linked to the same manufacturer. Kimly's former executive chairman Lim Hee Liat and former executive director Chia Cher Khiang were charged under the Securities and Futures Act in connection with the acquisition of ASC which was announced on July 2, 2018. In November 2018, it was reported that Kimly was backing out of its $16 million acquisition, following an investigation by the authorities. Kimly and ASC received letters from the Commercial Affairs Department and the Monetary Authority of Singapore, requesting for documents. The police said on Friday (Nov 12) that Kimly's acquisition was allegedly an interested person transaction, given Lim's partial beneficial ownership of ASC. This meant that the transaction should have been disclosed under the Singapore Exchange Catalist Rules, but purportedly was not. Lim was also charged with one count under the Companies...