SINGAPORE (May 8): Raffles United Holdings, formerly known as Kian Ho Bearings, revealed that the Commercial Affairs Department (CAD) has interviewed several of its executives, staff and ex-staff.

Among those interviewed are Teo Teng Beng, managing director; Teo Xian-Hu Amanda Marie, executive director and deemed substantial shareholder; Ho Hui Min, CFO and head, corporate of the company; Koh Hai Yang, business development directory of the group’s principal subsidiary, Kian Ho Pte Ltd (KHPL); and Kwek Che Yong, adviser to KHPL.

Ho has been asked to report back to the white-collar crimes division of the Singapore Police Force to assist in further investigations

To recap, the group’s subsidiary, KHPL, on May 4 received a letter dated May 2 from the CAD regarding an investigation into an offence under the Securities and Futures Act.

See: Raffles United under CAD probe for possible Securities and Futures Act infringement

For its investigations, CAD has requested documents/information and IT equipment for the period Jan 1, 2015 to date.

Raffles United says that it will continue to extend its fullest cooperation to CAD in its investigation and will make announcement as and when there are further significant developments with regard to this matter.

The business and operations of the group are also not affected by the investigations and will continue as normal, the group adds.

Shares in Raffles United Holdings closed at 11 cents on Tuesday.