Raffles United's directors provide bonds to CAD over potential breaches

Singapore

BEARINGS and seals supplier Raffles United Holdings on Thursday announced that several of its board members have provided a bond to report back to the Commercial Affairs Department (CAD) regarding potential breaches of the Securities and Futures Act.

Managing director Teo Teng Beng, executive director Teo Xian-Hui Amanda Marie, and CFO Ho Hui Min have each provided bonds to report back to CAD on May 31 to assist further in its investigations. With the provision of these bonds, the passports of Mr Teo, Ms Teo and Ms Ho were released by CAD for the purposes of overseas travel.