CAD investigating KTL Global, interviews its CFO

Singapore's Commercial Affairs Department (CAD) has requested documents and information from KTL Global and interviewed its chief financial officer Ng Kok Peng, as part of an investigation into a possible offence under the Penal Code, the company said in a Singapore Exchange filing on Wednesday night.

The Penal Code deals with law relating to criminal offences.

The CAD did not provide further details of the investigation, and KTL's business and operations are not affected and will continue as normal, the offshore services company said. KTL stated that it will cooperate with the CAD and will make further announcements as and when there are further significant developments on this matter.

In October last year, KTL Global announced that the CAD and the Monetary Authority of Singapore had requested the assistance of its chief executive officer at the time, Mr Tan Kheng Yeow, in an investigation concerning a possible offence under the Securities and Futures Act. Following an interview by MAS, Mr Tan surrendered his passport. He subsequently resigned as CEO and was succeeded by Mr Tan Kheng Kuan.

In December, MAS requested access to information including details of all local and overseas bank accounts held by the group and all accounting documents and books from Aug 1, 2014 to Dec 31, 2015.

A version of this article appeared in the print edition of The Straits Times on July 27, 2018, with the headline 'CAD investigating KTL Global, interviews its CFO'. Print Edition | Subscribe