Singapore investigating large number of complex transactions in 1MDB case

Singapore authorities have said that they are investigating a large number of complex transactions in a sweeping cross-border probe believed to be linked to 1Malaysia Development Berhad.
Singapore authorities have said that they are investigating a large number of complex transactions in a sweeping cross-border probe believed to be linked to 1Malaysia Development Berhad.PHOTO: AFP

SINGAPORE - Singapore authorities on Wednesday said they are investigating a large number of complex transactions in a sweeping cross-border probe believed to be linked to the troubled state fund 1Malaysia Development Berhad (1MDB).

This emerged at a state court hearing involving Kelvin Ang Wee Keng, who was charged on April 20 with corruptly giving a gratification of S$3,000 between 2013 and 2014 to research analyst Lee Chee Waiy to expedite preparation of a favourable valuation report to be issued by his firm.

Ang, 34, the second Singaporean to be charged in connection with the probe, has been in remand since April 20. He is believed to be employed in the finance sector.

Ang is scheduled for a hearing on May 11. The Straits Times understands that he faces the possibility of more charges being brought against him.

District Judge Christopher Goh granted the prosecution's application to remand Ang for another week but allowed him "reasonable" access to his lawyer Mr Hamidul Haq with arrangements to be made by the CAD.

gleong@sph.com.sg