Shen Yao director charged by CPIB; resigns citing health reasons
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The charges by the Corrupt Practices Investigation Bureau on the company director relate to offences under the Employment of Foreign Manpower Act.
ST PHOTO: DESMOND WEE
Michelle Zhu
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SINGAPORE – An independent director of Shen Yao Holdings has resigned with immediate effect due to “health reasons”, just slightly over a month into his role.
In conjunction with news of his resignation on Nov 30, the gold miner and explorer said its now-former director Pek Choon Lee was charged by the Corrupt Practices Investigation Bureau’s principal special investigator with three offences under the Employment of Foreign Manpower Act on Nov 28.
All three offences are under Section 22(1)(ii) of the Act, which relates to providing false or misleading information regarding employment; giving, selling, forging or unlawfully altering a work pass; and using or possessing any forged or unlawfully altered work pass, or one that is issued to another person.
Offences under this section carry a fine of not more than $15,000, imprisonment of no more than 12 months, or both.
Shen Yao said the charges concern Pek’s “private affairs” and are “wholly unrelated” to the company.
Its shares have been suspended from trading since March 2023. THE BUSINESS TIMES
