Aoxin Q & M Dental Group (SGX:1D4) clarified its termination of Ong Siew Hwa as CEO of Acumen, citing the recent expiry of Acumen's lab license and the scheduled December closure of its Sengkang facility, which will leave it without revenue-generating operations, according to a Monday filing on the Singapore Exchange.
Acumen's board, with Aoxin's support, is exploring options including tendering for new contracts, reapplying for a lab license, or liquidating assets.
Aoxin's core business in China, spanning dental services and equipment distribution, remains unaffected.
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