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News - Detailed News Story

Accrelist chairman assisting with CPIB probe

05 Mar 2020 09:00

By Vivienne Tay

TERENCE Tea, the executive chairman of Catalist-listed Accrelist and its subsidiary Jubilee Industries Holdings, has been asked to assist with a probe by the Corrupt Practices Investigation Bureau (CPIB).

Two Jubilee senior management staff were also requested to assist with investigations, Accrelist and Jubilee said on Tuesday in separate regulatory updates.

CPIB had requested their assistance on Feb 25, but the companies said they had not been able to make the announcements earlier "due to the Covid-19 situation and scheduling".

The investigations relate to certain expenses incurred and a payment made by Honfoong Plastic Industries - a 70 per cent owned Jubilee subsidiary - during the Chinese New Year period.


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Source: Business Times
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