Xie Jianfeng, CFO of the manager of Sasseur REIT, has been interviewed by authorities as part of an investigation under the Securities and Futures Act.
According to Sasseur REIT, Xie was interviewed by the Monetary Authority of Singapore and the Commercial Affairs Department on Dec 5, "as he appeared to be acquainted with the circumstances of a case being investigated."
According to Sasseur REIT, citing Xie, the probe relates to Xie's personal trading of securities which had occurred before he became an employee of the REIT's manager.
Xie was appointed to his current role on Dec 1 2021. Between May 2018 and Nov 21, he was the general manager of the finance department of the Sasseur Group, sponsor of the REIT.
According to Sasseur REIT's manager, its nominating and remuneration committee is of the view that the investigation has just commenced and no charges have been brought against Xie, who has surrendered his passport to the authorities.
"His roles and responsibilities in the Manager should continue as normal. The board has accepted the recommendation of the nominating and remuneration committee and is of the view that Mr Xie would be able to and shall continue to discharge his responsibilities and duties as CFO to ensure business continuity," the REIT's manager adds.
"The board wishes to highlight that the manager and Sasseur REIT are not under investigation. The operations of Sasseur REIT and the Manager will not be affected by the abovementioned investigation and continues as normal," the REIT's manager says.