Accrelist 'not aware' if company is facing corruption probe from authorities, says board

CATALIST-LISTED Accrelist has not been informed and is not aware if there are ongoing or outstanding investigations by the Corrupt Practices Investigation Bureau (CPIB) into its Jubilee unit or an indirect subsidiary, the board said in a bourse filing on Monday (Jan 17).

That's even as it disclosed that 1 of 2 senior management executives has been charged in court since a previous response in March 2020 to queries from the Singapore Exchange (SGX).

Serene Tea, senior vice-president of Jubilee's mechanical business unit, was charged in October 2021 with 1 count under the Prevention of Corruption Act, while there are no updates on the status of business development and project management executive Natasha Teh, the board said.

But the company reiterated a statement from Jan 11, 2022 that executive chairman and managing director Terence Tea - Serene Tea's brother - "has been discharged" from the probe.

Tea has also not been charged, as far as he is aware, said the board.

Accrelist cited a phone call from a CPIB investigation officer to Tea "at about 2.36 pm" on that day. The caller "was the same investigation officer that had liaised with Dr Terence Tea since the beginning", according to the board's statement.

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Bourse operator SGX had asked Accrelist to clarify whether the CPIB has confirmed that all potential charges against Terence Tea have been dropped, as well as whether Teh and Serene Tea are still assisting with CPIB investigations or have had charges brought against them.

Accrelist disclosed in 2020 that the CPIB was looking into employees at its subsidiary Jubilee Industries Holdings, and Honfoong Plastic Industries, which is 70 per cent owned by Jubilee. (see Amendment note)

The probe centred on a S$5,000 hongbao or red packet given by Honfoong to a customer, as well as Chinese New Year dinner and drinks expenses incurred with the customer present.

Other than the investigations into Teh and the Teas, Accrelist said that 2 other individuals have been charged in connection with the probe, to the best of the board's knowledge - Wong Liang Tong, an employee of Honfoong, and Toh Mui Lan, who left Honfoong in January 2019.

To an SGX query on whether there are any outstanding investigations by the CPIB into the company, the board said: "The investigations by CPIB were focused on the actions of individuals in connection with or whilst under the employment of Honfoong, not into the company."

Catalist-listed Jubilee separately released a similar statement in response to the bourse queries.

Amendment note: An earlier version of this article incorrectly stated that the probe involved the police. The Corrupt Practices Investigation Bureau is in fact an independent government agency. Accrelist has also clarified that the company referred to in its statement is Jubilee and not Accrelist.