Nera Telecommunications, the communications and solutions provider, announced that it had made a police report over misdirected remittance of $307,676 on Oct 5.
See also: Nera Telecommunications 1Q earnings down 39.2% to $1.74 mil
The misdirected remittance was due to a fraudulent instruction by a party purporting to be a supplier, according to the filing on SGX.
The Singapore Police Force is now in possession of relevant documents provided by Nera Telecommunications to assist in the investigation.
Nera Telecommunications says it has notified the banks involved and is considering further course of action to recover the funds.
Shares in Nera Telecommunications closed flat at 17.2 cents on Oct 6.
