CAD calls in two more to aid investigations into possible breaches at Jason Holdings

TROUBLED Jason Holdings disclosed on Friday that the Commercial Affairs Department (CAD) had called in two more people to aid its investigations into possible breaches under the penal code at the timber specialist.

The Catalist-listed company - which is facing corporate governance and debt repayment issues - said New Sze Wei, an employee of Jason Parquet Specialist (Singapore) Pte Ltd (JPSS), and Amy Chan Mei Lin, a former employee of JPSS, were interviewed by the CAD on Aug 30 and Sept 9, respectively.

Mr New is the brother-in-law of Jason Holdings' chief executive officer, Jason Sim.

"The directors will monitor the progress of the investigations and make such further announcement(s) as may be necessary,'' the company said.

Mr Sim himself was interviewed by the CAD on Aug 1 for the possible offence, and ordered to produce documents and information from 2008 to 2016. His travel documents were impounded on Aug 2.

Jason Holdings also revealed on Friday that it has received a letter of demand dated Aug 30 from KPMG for payment of a sum of about S$41,000 in respect of tax invoices issued for services rendered and disbursements incurred.

The letter stated that KPMG may commence legal proceedings if the payment of such sum is not made. The deadline for the payment as stipulated in the letter lapsed on Sept 9.

The company's board of directors is of the view the claim will have a material adverse impact on its financial position, the financial performance, business and operations.

Shareholders of the company and potential investors are advised to exercise caution when dealing in the shares of the company, it said.

Jason Holdings remains suspended from trading.