The 65-year-old has agreed to return to Singapore to 'clarify matters' that arose from his illegal departure just hours after he was declared bankrupt, Mr Tsoi Shun Cheong, his lawyer, told The Straits Times.

But Mr Tsoi insisted that this did not amount to a 'plea of guilt' to any liability that has been levelled against him. When pressed further, he declined to comment.

Yong and his wife were arrested by Hong Kong police on Wednesday after more than seven weeks on the run.

Yesterday, he appeared briefly in the Eastern Magistrates' Court, where his lawyer told the court he would 'consent to return' to Singapore.

Another hearing was set for next Wednesday, when proceedings for his voluntary return - known as a 'consent committal proceeding' - will be initiated.

After Hong Kong chief executive Donald Tsang signs the extradition, Yong will be sent back to Singapore.

He was arrested here under the Fugitive Offenders Ordinance, said a justice department spokesman here.

Under the ordinance, such an offender, 'who is wanted in a prescribed place for prosecution...may be arrested and surrendered to that place'.

Going by previous cases, Yong could be returned to Singapore within 'a few weeks', the spokesman said.

Lawyers say that if Yong did not consent to surrender, he could have engaged counsel to contest his arrest. Such a trial could last for months.

The Subordinate Courts in Singapore had on June 13 issued a warrant for Yong's arrest after he fled the country illegally on May 17, amid questions surrounding his assets.

He left the country with his wife On Shu Kio just hours after he was declared a bankrupt on May 16.

As he had done so without seeking permission from the Official Assignee - an offence under the Bankruptcy Act - he faces up to two years in jail and a maximum $10,000 fine if convicted.

When he is back in Singapore, he will have a lot of explaining to do, such as whether he fraudulently disposed of three properties amounting to $7.5 million to escape paying damages to the NKF.

Yong, ex-board members Loo Say San and Matilda Chua, as well as former chief T.T. Durai owe the NKF some $12 million in all after the charity won a civil suit against them.

Yong is being held at a detention facility in Kowloon, said an employee at the magistrates' court.

A police spokesman said Yong was arrested in the 'southern district on Hong Kong Island'. The district would cover upmarket areas such as Repulse Bay.

Yong's wife is expected to appear in court this morning. Lawyers said she could be repatriated to face charges if there is evidence that she helped him flee or assisted him in concealing his assets.

In Singapore, NKF chairman Gerard Ee, commenting on Yong's arrest, said that from the NKF's point of view, 'we are very keen to bring closure to the matter'.

Asked if NKF will settle with Yong, he said: 'I'm just hoping that the next stage could be a discussion, and then maybe, we can work out something. I leave that to my lawyers to advise us.'

vincec@sph.com.sg

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