FINWIRES · TerminalLIVE
FINWIRES

Update: Market Chatter: WiseTech Global Executive Chairman Under Sexual Exploitation Investigation; Shares Near Five-Year Low

By

(Updates to add stock movement in the headline and the fourth paragraph and the company's reply in the third paragraph)

WiseTech Global (ASX:WTC) Executive Chairman Richard White is under an Australian federal police investigation over allegations that he coerced a former cleaner at the company into a sexual relationship, the Australian Financial Review reported Monday, citing a police report and multiple sources briefed on the matter.

The police launched the probe earlier this year following a complaint by a former executive of Kyckr, another firm White controls, alleging that White falsified information on a visa application for Caroline Heidemann, the former cleaner, according to the report.

In its reply to' request for comment, WiseTech Global said it has no comment on the matter.

The company's shares fell around 12% in recent trading on Monday and earlier reached their lowest since July 2021.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Related Articles

Asia

LY Corp.'s Unit Loses Warehouse Dispute, Appeals Against Decisions

Ly Corp's (TYO:4689, SGX:1H8) subsidiary, Ly Furniture, filed an appeal to the High Court of Malaysia after the Johor Bahru Sessions Court made a partial ruling against it in a warehouse dispute against Xin Hwa Trading & Transport.The court has ordered the subsidiary to pay 311,501 ringgit plus interest and costs on a counterclaim filed by Xin Hwa, according to a Wednesday filing with the Singapore Exchange.The court partially allowed LY Furniture's original claim against Xin Hwa for missing inventory and awarded it 100,000 ringgit with 5% annual interest.Meanwhile, Xin Hwa's counterclaim for unpaid warehousing fees was allowed to stand in full, with an accrued interest of 1.5% per month, starting from February 2023.LY Furniture has filed its notice of appeal and is not expecting the case to have a material impact.

SGX:1H8TYO:4689
Asia

RS Technologies to Invest 8.04 Billion Yen in 400 MWh Battery Storage Project

RS Technologies (TYO:3445) will invest 8.04 billion yen for a 49% stake-in a grid-scale battery energy storage project in Otawara City, Tochigi Prefecture, through a silent partnership in special purpose company GK CDH JAPAN BESS4.The project, with total investment of about 16.4 billion yen, features a rated output of 99.82 MW and approximately 400 MWh storage capacity, equivalent to the daily electricity usage of roughly 35,000 households.Capital contributions are scheduled in stages from August 2026 through August 2029, with commercial operations planned to commence in October 2029.The initiative addresses growing power supply-demand balancing needs amid renewable energy expansion, and is expected to establish a new earnings base for the company.

TYO:3445
Asia

EcoWise Warns Fiscal Q4, Full Year Losses

EcoWise (SGX:5CT) expects a net loss from continuing operations for the fourth quarter and fiscal year ending April 30, according to a Friday Singapore bourse filing.The company attributed the forecast to a lower fiscal Q4 profit and a full-year loss incurred in the resource recovery segment, a lower other income due to the absence of a one-off gain from the disposal of certain assets as seen in the prior-year period, and higher administrative expenses.

SGX:5CT