Singapore Kitchen Equipment says CEO, senior manager were arrested after all
CATALIST-LISTED Singapore Kitchen Equipment (SKE) said its chief executive officer Sally Chua and senior manager Charlene Koh were arrested by the Commercial Affairs Department (CAD), a day after disclosing the pair were not arrested.
Chua and Koh are being investigated for possible offences under section 417 of the Penal Code, which sets out penalties for cheating, SKE said in a bourse filing on Friday (Jun 16).
SKE on Wednesday said Chua and Koh have been released on bail after being interviewed by the CAD. It said the pair were being investigated under the Penal Code, but did not elaborate.
Upon queries raised by the Singapore Exchange, SKE on Thursday clarified that the pair have not been arrested, and that the interviews were scheduled interviews. It added, in response to queries, that their passports have been surrendered to the CAD.
The next day, SKE said Chua and Koh were actually arrested, after further clarification with the CAD.
The CAD probe arose from the outcome of a fact-finding review by law firm Rajah & Tann, involving eight payments amounting to S$1.4 million, SKE said.
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The payments had been made by SKE’s majority shareholder, QKE Holdings, on behalf of the company’s main operating subsidiary, Q’son Kitchen Equipment (QKE).
Rajah & Tann’s review found that “certain employees of QKE had altered… documents unilaterally, without instructions from, and knowledge and/or approval by the executive directors, including the CEO”.
Chua and Koh’s bail is scheduled to be renewed on Jun 28.
Trading in SKE shares has been suspended since August 2021.
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