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CAD not taking further action on China Environment ex-chairman
THE Commercial Affairs Department (CAD) of the Singapore Police Force will not be taking further action on Huang Min, the former executive chairman of China Environment.
This is due to insufficient evidence of a criminal offence committed in Singapore, the provider of waste gas treatment systems disclosed in a regulatory update on Wednesday.
The CAD had completed its review and considered all facts and circumstances, added China Environment, and the CAD had forwarded the information to its China counterparts for their necessary action and will review its decision if there is additional evidence to substantiate the allegations.
China Environment in December 2016 lodged a report to the CAD against Mr Huang and former chief financial officer Chiar Choon Teck. The company made the complaint in relation to the non-existent receivables, it disclosed at the time.
The company's latest announcement did not address CAD's review on Mr Chiar.
In December 2018, China Environment disclosed that it is being investigated by the Accounting and Corporate Regulatory Authority into possible offences under the Companies Act.
Catalist-listed China Environment shares have been suspended since June 23, 2016.