Commercial Affairs Department (CAD)

Trek 2000 confirms CAD charges related to forensic auditor's reports

SINGAPORE (Sept 30): Technology firm Trek 2000 International has confirmed that all the charges against chairman emeritus Tan Henry @ Henn Tan and three other former officers by the Commercial Affairs Department (CAD) are related to some of the matters highlighted in 2017 and 2018 by forensic auditor RSM Corporate Advisory.

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Trek 2000 confirms CAD charges related to forensic auditors' reports; says legal action against former management in their 'personal capacity'

SINGAPORE (Sept 26): Technology firm Trek 2000 International has confirmed that all the charges against chairman emeritus Tan Henry @ Henn Tan and three other former officers by the Commercial Affairs Department (CAD) are related to some of the matters highlighted in 2017 and 2018 by forensic auditors RSM Corporate Advisory.

SGX RegCo queries Trek 2000 on CAD charges against founder Henn Tan, 3 other former officers

SINGAPORE (Sept 25): Singapore Exchange Regulation (SGX RegCo) has queried Trek 2000 International following media reports that chairman emeritus Henn Tan and three former Trek executives have been slapped with charges by the Commercial Affairs Department (CAD).

Tan, the inventor of the ThumbDrive, was the founder of Trek, and its former CEO and chairman. According to media reports, the 63-year-old is said to be facing a total of 15 charges.

Bold leadership required from auditing field to recover waning investor trust in the local market

SINGAPORE (July 29): Shortly after starting my first job as an analyst in Kuala Lumpur almost three decades ago, one of my senior colleagues sat me down and explained how to navigate a public-listed company’s annual report. He went through the balance sheet, profit-and-loss statement and cash flow statement line by line, and gave me advice on how to interpret the notes to the accounts. He also walked me through the other sections of an annual report, and explained why they were there.

Bold leadership required from auditing field to recover waning investor trust in the local market

SINGAPORE (July 29): Shortly after starting my first job as an analyst in Kuala Lumpur almost three decades ago, one of my senior colleagues sat me down and explained how to navigate a public-listed company’s annual report. He went through the balance sheet, profit-and-loss statement and cash flow statement line by line, and gave me advice on how to interpret the notes to the accounts. He also walked me through the other sections of an annual report, and explained why they were there.

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YuuZoo's second request to lift trading suspension rejected

SINGAPORE (July 19): The Singapore Exchange (SGX) has for the second time rejected YuuZoo Networks Group’s request to lift its share trading suspension.

See: Scrutinising YuuZoo’s deals

See also: YuuZoo confirms CAD investigation into company and chairman Zilliacus

SembMarine lodges suspicious transaction report linked to ex-EJA president Martin Cheah

SINGAPORE (July 8): Sembcorp Marine (SembMarine) has lodged a suspicious transaction report linked to ex-employee Martin Cheah Kok Choon with the Commercial Affairs Department of the Singapore Police Force.

The suspicious transaction is linked to Cheah when he was president of SembMarine’s Brazilian subsidiary, Estaleiro Jurong Aracruz (EJA) until June 2015 when his employment was terminated.

CAD seizes Allied Tech documents for investigations; retains director's electronic belongings & passport

SINGAPORE (May 30): Allied Technologies says the Commercial Affairs Department (CAD) has seized information, records and documents on the group and its subsidiaries – as well as on its escrow account with JLC Advisors, from which some $33 million is alleged to have gone missing.

Annica chairman Ong quits just as $33 mil goes missing at his law firm JLC

SINGAPORE (May 27): Jeffrey Ong, managing partner of law firm JLC Advisors, may have given instructions to pay out a sum of $33.2 million held in escrow by his firm for a client, Allied Technologies. According to Allied’s statement filed with Singapore Exchange on May 23, the payment may have been “unauthorised”, citing a letter it received from JLC on May 22. Allied’s statement did not specify who the payment was made to.

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Singapore authorities to continue investigation of key Midas personnel amid winding-up woes

SINGAPORE (April 2): Singapore’s authorities say they will continue their investigation into Midas Holdings’ former directors and officers in the event that the insolvent company winds up.

This comes amid a year-long investigation into Midas Holdings as the company’s former directors and officers by the Commercial Affairs Department (CAD) and Monetary Authority of Singapore (MAS).

Singapore’s regulatory unit SGX RegCo is also reviewing potential listing rule breaches by former directors and executive officers of Midas.

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