JES uncovers possible financial irregularities related to ex-CEO

Singapore

CHINESE shipbuilder JES International could be taking legal action against its former CEO and chairman Jin Xin, after it uncovered possible financial irregularities related to him. It has also started proceedings against a former employee who absconded with the group's administrative records and seals.

In a periodic review of its financials, the group discovered that unauthorised payments had possibly been made to Mr Jin, and that "questionable" transactions had taken place between the group and companies in which he had undeclared interests.