Two directors of a joint venture partner of Sysma are helping CPIB in probe

SINGAPORE - Two directors of Sysma Holding's joint venture partner, who are also directors of the joint venture company, are assisting the Corrupt Practices Investigation Bureau (CPIB) in investigations, said the listed company on Thursday.

Sysma holds 51 per cent of the joint venture firm, while the partner holds 49 per cent.

Sysma said it had not been approached by CPIB over the investigations. Neither has the bureau disclosed any details of its probe to the board.

It said the investigations seemed to be related to events that happened in the directors' previous jobs, before the joint venture firm was incorporated.

One of the directors has given information about the joint venture firm to CPIB, it added.

Besides that, the investigations do not seem to be related to Sysma, and should have no impact on the group's business or operations, the company said.