19 Apr 2024

Blackwell Global director Michael Chai arrested in the Philippines

7:48 pm on 19 April 2024
Michael Chai, a member of Blackwell Global's board.

Blackwell Global director Michael Chai. Photo: Supplied

The director of a New Zealand based company has been arrested in the Philippines.

Blackwell Global Holdings, a small finance concern listed on the New Zealand stock exchange, said it had just found out that one of its directors, Michael Chai, was arrested and detained in January.

Blackwell Global chairperson Sean Joyce said Chai's arrest was not related to Blackwell and they were trying to find the exact details of the charges.

"The independent directors have today, through an intermediary, sought the resignation of Mr Chai as a director of the company."

"The independent directors are taking legal advice on this matter, and are looking at the implications of this development on the company."

Company Office records name Kaw Sing Chai with a Taiwanese address as a director of Blackwell since June 2017.

Messages on X, formerly Twitter, and a statement from the Philippines Bureau of Immigration have named Kaw Sing Chai as one of three people arrested trying to board a plane to Hong Kong.