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CAD seeks interviews with KTL Global chairman, directors as part of ongoing probe
SINGAPORE'S white collar-crime investigators have interviewed KTL Global executive chairman Tan Tock Han as part of an ongoing probe into possible offences under the Singapore Penal Code, the company said on Friday during the market's mid-day break.
The offshore services company said that its other directors have also received requests from the Commercial Affairs Department (CAD) for interviews. KTL Global added that its directors or management staff may be required to attend further interviews to assist in the investigations.
"The company has extended and will continue to extend its fullest cooperation to the CAD in its investigations," KTL Global said in a statement.
In October 2017, KTL Global said that the CAD and the Monetary Authority of Singapore (MAS) had requested the assistance of its chief executive at the time, Tan Kheng Yeow, in an investigation concerning a possible offence under the Securities and Futures Act. Mr Tan subsequently surrendered his passport to the authorities, and resigned as CEO. In December that year, the MAS requested access to information including details of all local and overseas bank accounts held by the company and all accounting documents and books from Aug 1, 2014 to Dec 31, 2015.
In July this year, CAD sought further documents and information from KTL Global, and also interviewed chief financial officer Ng Kok Peng.
KTL Global shares saw no trades on Friday morning, but were last bid at 1.7 Singapore cents and offered at 3.2 Singapore cents before the noon break.