Singapore Kitchen Equipment CEO, senior manager out on bail amid CAD probe
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Singapore Kitchen Equipment chief executive Sally Chua was released on bail after being interviewed by the Commercial Affairs Department.
PHOTO: LIANHE ZAOBAO FILE
Sharanya Pillai
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SINGAPORE – Singapore Kitchen Equipment (SKE) chief executive Sally Chua and senior manager Charlene Koh have been released on bail after being interviewed by the Commercial Affairs Department (CAD), the company disclosed in a Wednesday bourse filing.
The interview was part of the CAD’s investigations into a potential offence “under the Penal Code 1871 of Singapore”, the company said, without providing further details. It added that business will “continue as normal”.
The development comes about a year after the CAD had ordered SKE to produce documents
The company had earlier conducted fact-finding reviews on eight transactions worth about $1.4 million that majority shareholder QKE Holdings had made on behalf of its main operating subsidiary, Q’son Kitchen Equipment (QKE).
The documents CAD requested included a report prepared by Rajah & Tann dated April 25, 2022, relating to the eight transactions, invoices issued by Activa Media to QKE, and other relevant e-mails, bank statements and meeting minutes.
The Accounting and Corporate Regulatory Authority had also been investigating SKE for possible breaches of Section 402(1) of the Companies Act.
Trading in SKE shares has been suspended since August 2021. THE BUSINESS TIMES
