21 November 2017
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DMX Technologies uncovers new findings from probe

Business Times
02 Nov 2017
Anita Gabriel

IT solutions provider DMX Technologies Group said it has uncovered "new findings" from recent investigations in connection with the former management and certain unauthorised payments.

Based on these new findings and the findings from the initial and expanded investigations and as advised by its HK counsel, the company has lodged a report with Hong Kong's police on Oct 31.

The company said it intends to fully cooperate with the Hong Kong Police Force in relation to any of its investigations and will also coordinate closely with the legal counsels and the regulatory authorities responsible for other relevant jurisdictions.

"The company intends to pursue to the fullest extent possible all its rights and remedies against the relevant parties," it added.

In April last year, DMX Technologies announced that a unit had filed a writ of summons against its former management and one of its subsidiaries for irregular accounting practices in Hong Kong's High Court.

Four former executives were sued together with DMX Hong Kong and two other companies Mozart Management, and Tacoma Associates.

According to investigations by the mainboard-listed digital media and software provider, unauthorised payments were made to Mozart by DMX Hong Kong's clients, while DMX Hong Kong had also made unauthorised payments meant to be made to its contracting parties to Tacoma between 2008 and 2012.

DMX Technologies said it will issue further announcements as and when there are any material developments.

Source: Business Times © Singapore Press Holdings Ltd. Permission required for reproduction.