SINGAPORE (July 26): Offshore services firm KTL Global revealed it is under investigation by the Commercial Affairs Department (CAD) for a possible criminal offence.

In a filing to SGX on Wednesday night, KTL says CAD has requested access to certain documents and information concerning the company, including accounting records pertaining to certain transactions as well as IT equipment used by certain management staff.

KTL’s chief financial officer, Ng Kok Peng, was also interviewed by the CAD on Wednesday in relation to its investigations.

The company says it has not received any further details from CAD regarding its investigations. It adds that the business and operations of the company are not affected by the investigations, and will continue as normal.

“The company has extended and will continue to extend its fullest co-operation to the CAD in its investigations,” KTL says.

KTL announced in October last year that then-CEO Tan Kheng Yeow had been requested to assist in an investigation by the Monetary Authority of Singapore (MAS) and CAD for a possible offence under the Securities and Futures Act.

Tan subsequently resigned from his position and was replaced by his brother Tan Kheng Kuan.

In December, MAS requested access to details of all local and overseas bank accounts held by the group, bank accounts statements, and all accounting documents and books of the group from Aug 1, 2014 to Dec 31, 2015.

The regulatory body also asked for all accounting records relating to the proceeds raised by KTL from the private placement deal with Infinity Global Consultancy on Mar 10, 2015.

Shares of KTL Global last closed at 3.3 cents on Jul 18.