CPIB probe into Starburst execs linked to 'corrupt transactions'
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Starburst Holdings executive chairman Edward Lim (left) and managing director Yap Tin Foo interviewed by the CPIB in 2014.
PHOTO: LIANHE ZAOBAO
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Three Starburst Holdings executives are being investigated in relation to "corrupt transactions with agents", the Catalist-listed firm said on Wednesday, in response to Singapore Exchange queries.
It noted that executive chairman Edward Lim Chin Wah, managing director Yap Tin Foo and senior project manager Josiah Lawrence Ng Eng Long were on bail amid a probe by the Corrupt Practices Investigation Bureau (CPIB).
The investigation relates to the affairs of wholly owned unit Starburst Engineering.
Starburst said Mr Lim and Mr Yap are being investigated for offences under Section 6 (b) of the Prevention of Corruption Act, while Mr Ng is being investigated for abetting the commission of an offence under that Act. That section of the Act relates to "corrupt transactions with agents".
Chief financial officer Wu Guangyi was also interviewed by the CPIB but not arrested.
Starburst noted that certain documents of Starburst Engineering and electronic equipment, including hard disks and laptops, have been handed to the CPIB.
Its announcement on Nov 15 noted that the investigation is not related to current projects and so does not affect the group's business and operations.
Mr Yap and Mr Ng's passports are with the CPIB, which did not ask Mr Lim to surrender his travel documents, said Starburst.
The firm advised shareholders and potential investors to exercise caution when dealing in its shares.
Starburst shares closed up 37.2 per cent to 22.5 cents yesterday.
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