What’s troubling Prof Mak at YuuZoo?

SINGAPORE (July 28): Mak Yuen Teen, associate professor at the department of accounting at the National University of Singapore Business School, says he has been a keen observer of corporate governance for almost 20 years, but he has never seen a company quite like YuuZoo Corp.

So far, Mak has published three commentaries raising questions about YuuZoo’s corporate governance. But the company has simply brushed off the accusations, saying his articles contained erroneous statements and posed misleading questions.

In his first commentary, Mak says there have been at least 15 departures of directors and key officers, including five CFOs and two audit committee chairmen. At that time, the company was also advertising for yet another CFO and another independent director was on the way out.

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