CPIB probe into Starburst chairman, MD related to corrupt transactions with agents
SINGAPORE (THE BUSINESS TIMES) - Starburst Holdings executive chairman Edward Lim Chin Wah and managing director Yap Tin Foo are being investigated in relation to "corrupt transactions with agents", the Catalist-listed firm said on Wednesday (Nov 18), in response to queries from the Singapore Exchange on Monday.
新加坡(The Business Times)-星爆控股(StarBurst Holdings)执行主席林展华(Edward Lim Chin Wah)和董事总经理叶天福(Yap Tin Foo)周三(11月18日)在回答新加坡交易所(Singapore Exchange)的询问时表示，他们正在接受调查，涉嫌与代理机构进行腐败交易。
Starburst had announced on Nov 15 that Mr Lim, Mr Yap, and senior project manager Josiah Lawrence Ng Eng Long were on bail amid an investigation by the Corrupt Practices Investigation Bureau (CPIB), related to the affairs of wholly-owned unit Starburst Engineering Pte Ltd.
StarBurst曾在11月15日宣布，在腐败行为调查局(CPIB)对全资子公司StarBurst Engineering Pte Ltd的事务进行调查期间，林志强、叶诗文和高级项目经理吴恩龙(Josiah Lawrence Ng Eng Long)已获得保释。
On Wednesday, Starburst confirmed that the trio had been arrested by the police's white-collar crime unit and are currently on bail pending the ongoing investigation.
It said that based on information provided to the company by Mr Lim, Mr Yap and Mr Ng, the former two are being investigated for offences under Section 6 (b) of the Prevention of Corruption Act (Chapter 241) of Singapore; Mr Ng is being investigated for abetting the commission of an offence under that Act.
That section of the Act relates to "corrupt transactions with agents", specifically to corruptly giving or offering gratification to agents for doing any act in relation to the principal's affairs or business, or showing favour or disfavour to any person in relation to such business.
The company's chief financial officer Wu Guangyi was also interviewed by the CPIB as part of its investigation. He was not arrested and, to the best of his knowledge, is not the subject of an investigation.
Starburst noted that in connection with the investigations, certain records and documents of Starburst Engineering and electronic equipment - including flash drives, hard disks and laptops - have been handed over to the CPIB.
In its Nov 15 announcement, Starburst had noted that the CPIB investigation is not related to the group's current projects, and accordingly does not affect the group's business and operations.
On Wednesday, it said: "Save in respect of the standard conditions of bail applicable to Mr Lim, Mr Yap and Mr Ng, there have been no other conditions or restrictions imposed by CPIB on the relevant persons."
The "standard conditions" include the surrendering of travel documents, surrendering to custody or making oneself available for investigations and attending of court as appointed.
Mr Yap and Mr Ng's passports are with the CPIB. The CPIB has not requested Mr Lim to surrender his travel documents, said Starburst.
"Each of the relevant persons has agreed to inform the company, on a continuing and timely basis, on any updates in respect the ongoing investigation and any subsequent developments thereto," said Starburst, adding that it will keep shareholders abreast of material developments.
"The Board confirms that it will continue to monitor the progress of the ongoing investigation and the NC (nominating committee) will continue to re-assess the relevant persons' suitability as a director/key management of the company as and when there are developments to the investigation," it said.
It advised shareholders and potential investors to exercise caution when dealing in its shares.
Starburst shares closed up 2.8 cents or 20.59 per cent at 16.4 cents on Wednesday before the news.