Tiong Seng Holdings said Monday its CEO and Executive Director Pek Lian Guan and its project director, Pay Teow Heng, were interviewed by the Corrupt Practices Investigation Bureau (CPIB) last week.
The interviews were related to certain staff loan transactions the company’s wholly owned subsidiary Tiong Seng Contractors entered, Tiong Seng said in a filing to SGX.
Both Pek and Pay are directors of Tiong Seng Contractors, the filing said. The two are currently on bail for alleged offenses related to offering or giving bribes under the Prevention of Corruption Act, the filing said.
Since no charges have been filed, Pek and Pay, remain in their positions. “The board will reassess its position where appropriate,” Tiong Seng said.
The company said it couldn’t provide further details as CPIB’s investigation is ongoing.
While you’re here, we’re hoping you can help us out.
Shenton Wire has been providing you with quick news and market analysis. But we need your support to continue to bring you the news you’ve come to expect and to expand our reach beyond Singapore.
Your monthly contribution will directly fund our journalism.
You can check your existing account here. You can also contact us about other contribution levels or for corporate subscriptions and syndication queries.
Or you can contribute via PayPal: