GS Holdings: Received CAD and MAS letter requiring document handover

Singapore 50 dollar bill

GS Holdings said Wednesday the company had received a letter, dated Tuesday, from the Commercial Affairs Department (CAD) of the Singapore Police Force and the Monetary Authority of Singapore (MAS) requiring the company to provide certain information and documents related to an investigation.

The investigation is into a potential offence under the Securities and Futures Act (Chapter 289), the company said in a filing to SGX.

Pang Pok, GS Holdings’ executive director and CEO, also attended an interview with CAD to assist in the investigation, the filing said.

“The board understands that the company, its subsidiaries, directors and employees are not currently the subject of the Investigation and there have been no requests made for any director or management to surrender their travel documentation,” GS Holdings said in the statement.

“The company will hand over all requested information / documents to the relevant CAD officer and the board and management will extend their full cooperation to CAD and MAS to assist with the investigation,” GS Holdings added.

GS Holdings said it didn’t expected the group’s business and operations to be affected nor did it expect any material impact on the group’s financials.

The company said it was unable to provide further information as details of the investigation are confidential.