Ayondo’s board of directors have received an order from the Market Conduct Investigations (Enforcement Department) of Monetary Authority of Singapore (MAS) with regard to Section 20 of the Criminal Procedure Code (Chapter 68).
Ayondo says the company was required to provide information and documents related to an investigation into a possible offence under Chapter 289 of the Securities and Futures Act, which is related to the regulation of activities and institutions in the securities and derivatives industry.
Two of the company’s directors, independent director Foong Daw Ching, and non-executive director Foo Fatt Kah have attended interviews conducted by MAS in conjunction with the Commercial Affairs Department (CAD).
Ayondo says it will be providing its “full cooperation” in the investigations.
Shares in Ayondo closed flat at 4.8 cents on Oct 1.
Foo's involvement was separately announced by Anchor Resources, in which he was one of the independent directors.
Similarly, Foong's involvement was separately announced by Starland Holdings. Foong is an ID there.
