Sinjia Land CEO assisting with CAD probe

CATALIST-LISTED Sinjia Land Limited’s group chief executive officer Cheong Weixiong was recently interviewed by the authorities in connection to an offence under the Securities and Futures Act.

In a bourse filing on Wednesday (Jul 20) evening, the backpacker hostel operator said it received a letter, dated Jul 19, from the Commercial Affairs Department (CAD) and the Monetary Authority of Singapore (MAS) requiring the company to provide certain information and documents relevant to the investigation.

Cheong, who is also the company’s executive director, was interviewed by the CAD on Tuesday as part of the investigation.

Sinjia Land said it will cooperate fully with the CAD and MAS, and added that the group’s business and operations will continue as usual.

The investigation will also not affect the management of the group in the discharge of its roles and functions, the company said.

Shares of Sinjia Land were up S$0.002 or 3.9 per cent at S$0.053 on Wednesday before the announcement.