Wednesday, Sep 24, 2014Wednesday, Sep 24, 2014
Business
 

Innopac Holdings ordered to hand over data, CEO surrendered passport

Published on Apr 11, 2014 6:04 PM
 

Innopac Holdings today disclosed that white collar crime buster Commercial Affairs Department (CAD) had on, April 2, served orders to the company and five subsidiaries and a former associate company to hand over computers, data storage devices, files and financial records belonging to these entities.

Innopac said in a statement that it and the relevant subsidiaries have cooperated fully with the CAD.

The CAD orders are in connection to their investigation into an alleged offence under the Securities and Futures Act from Jan 1, 2011 to date.

"Further, the board has also been informed by Mr Wong Chin Yong, managing director and chief executive of the company, that he has surrendered his passport to the CAD in their investigation into the offence of false trading and market rigging under Section 197 of the SFA."

 
If you are not a subscriber, you can get instant, unlimited access here

Videos