Pacific Radiance executive director being investigated by CPIB
AN executive director of offshore marine support services firm Pacific Radiance is being investigated by Singapore's anti-corruption officials after he was arrested and released on bail.
The mainboard-listed company said on Tuesday Mok Weng Vai was arrested by the Corrupt Practices Investigation Bureau (CPIB) on Dec 2.
This was on the suspicion of an offence under Section 6(c) of the Prevention of Corruption Act (Cap 241) of Singapore, which deals with a person intending to mislead another party with receipts, accounts or documents containing erroneous information.
He has not been charged in court, and was released on police bail on the same day, said the company. Investigations are ongoing, it added.
Pacific Radiance's counter closed on Monday at S$0.155, a 0.2 Singapore cent increase.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
China’s top airlines improve balance sheet in Q1; outlook positive for May Day
Stablecoin issuer Tether invests US$200 million in brain-computer interface company
Yahoo to lay off staff in Singapore as it shifts to content curation
US: Wall St opens higher on megacap strength, Fed verdict awaited
IReit Global occupancy rate grows to 91.5% in Q1
Yen surges against US dollar on suspected intervention