Just a day earlier, the company released a summary of an investigation by PricewaterhouseCoopers Risk Services, which was appointed last September to probe allegedly unauthorised fund transfers totalling $6.55million between TEE International and entities personally held by Phua.
SINGAPORE (Mar 4): The Commercial Affairs Department has commenced probes on Phua Chian Kin, former group CEO of TEE International.
Investigators from the white-collar crime unit have already taken away certain documents and items from the company’s premises earlier in the day, the company said in a late-night announcement on March 4. “The CAD has not given any further details of its investigations. The Company intends to cooperate fully with the CAD on its investigations,” said TEE International.
