CAD investigates Singapore Kitchen Equipment, requests documents relating to subsidiary

CATALIST-LISTED Singapore Kitchen Equipment (SKE), in a bourse filing on Monday (Jul 4), noted that it has been ordered by the Commercial Affairs Department (CAD) to produce various categories of documents to assist with an investigation into an offence.

The company had earlier conducted fact-finding reviews on 8 transactions worth about S$1.4 million that majority shareholder, QKE Holdings (QKEH), had made on behalf of its main operating subsidiary, Q’son Kitchen Equipment (QKE).

Among the documents CAD requested on Jun 29 include a report prepared by Rajah & Tann dated Apr 25, 2022 relating to the 8 transactions, invoices issued by Activa Media to QKE, as well as other relevant emails, bank statements and meeting minutes.

SKE said that the business and operations of the group are not affected by the investigations, and that it will make further announcements as it monitors the progress of the investigations.

The Accounting and Corporate Regulatory Authority has also been investigating SKE for possible breaches of Section 402(1) of the Companies Act.

The section makes it an offence for a company’s officer, with intent to deceive, to make, furnish, or knowingly and wilfully authorise or permit the making or furnishing of any false or misleading statement or report to a director, auditor, member, or debenture holder of the corporation, or to an auditor of its parent company.

SEE ALSO

Singapore Kitchen Equipment’s ex-CFO made or asked for document alterations to ‘simplify’ audit process, review finds

Acra investigates Singapore Kitchen Equipment over possible falsification of report

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Shares of the company have been suspended since August 2021.