Tritech, Tiong Seng executives charged with corruption involving former LTA deputy group director
Former LTA exec Henry Foo Yung Thye accused of taking S$1.24m of gratuities in the form of loans
Singapore
TWO listed companies were scrambling on Friday to deal with the corruption charges that have ensnared their senior executives and a former Land Transport Authority (LTA) officer.
The Tritech Group announced the resignation of executive director Cai Jungang before market open; Tiong Seng Holdings said its chief executive and executive director Pek Lian Guan and Tiong Seng Contractors director Pay Teow Heng will relinquish their roles for now.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Asia markets mixed after Fed leaves rates unchanged; STI rises 0.1%
Singapore Savings Bond 10-year average yield hits year-to-date high of 3.33%
Universal Music Group reaches new licensing agreement with TikTok
Sumitomo to bolster shareholder returns in new mid-term plan
US Fed ‘less hawkish’ than expected; Singapore banks, net cash companies likely to outperform
ST Engineering bags more than S$175 million in contracts to upgrade Singapore’s public bus fleet