Bee Cheng Hiang and Ya Kun Kaya Toast warn customers of impersonation scams over claims of IPO plans

SINGAPORE – Home-grown brands Bee Cheng Hiang and Ya Kun Kaya Toast warned the public on Jan 8 of fraudulent accounts impersonating the food chains on social media.

They said they were aware of online posts published by fraudulent accounts which claimed that the food chains would be conducting an initial public offering (IPO).

Both companies debunked the claims, and urged customers to refer to their official communication channels for reliable news on their business.

Bee Cheng Hiang, known for its barbecued pork products, including bak kwa, said in a Facebook post on Jan 8 at around 11am that it is aware of advertisements and posts claiming that the company is conducting an IPO or inviting the public to join investor and shareholder communities.

“This information is completely false, a police report has been made. Bee Cheng Hiang is not conducting any IPO, share offering, or investment solicitation of any kind,” it said.

It urged the public to avoid clicking on such advertisements and reminded users not to share any personal information.

Later that day, Ya Kun Kaya Toast made a similar announcement on Facebook, saying it had been notified of a post on social media claiming that the company is planning to go public.

“We would like to clarify that the claims made in the post are entirely untrue and do not originate from, nor are they endorsed by, the management of Ya Kun International or any of its official representatives,” it said.

The company, known for serving up old-school breakfast favourites like kaya toast and kopi, also warned that it would take legal action against parties who continued to publish or distribute false content about its business.

It also urged customers to refer its official communication channels for reliable information.

The Straits Times has contacted the police for more information.