SINGAPORE (Jan 31): The judicial managers (JMs) of Catalist-listed Epicentre Holdings have reported that the company is being investigated by the Commercial Affairs Department (CAD) and Monetary Authority of Singapore (MAS). 

In a regulatory filing on Friday, the group says that it received notice of the investigation on Jan 20, requiring the company to provide certain information and documents in relation to “an offence” under Chapter 289 of the Securities and Futures Act. 

“The JMs intend to provide their full cooperation with CAD and MAS and assist the said investigation and will make further updates as appropriate,” says the group. 

This comes shortly after the group’s independent director Lai Choong Hon received a similar notice from CAD and MAS which required him to assist with a similar investigation. 

“Mr. Lai indicated that he had provided his full cooperation with CAD and had attended and assisted the said investigation recently. As of now, CAD has not provided Mr. Lai of any further details of its investigation,” said the group in a filing on Jan 21. 

Besides his position at Epicentre, Lai is also CEO of Engineering Manufacturing Services (EMS), a subsidiary of AA Group. 

See: AA Group director probed by CAD; missing Lim to Epicentre flagged

Trading of Epicentre's shares has been suspended since May 30, 2019.