CAD investigating Independent & Non Executive Chairman and CEO/MD of Tee International for market rigging
Tuesday, 3 April, 2012 6:49 AM
Posted by Kevin Scully
Tee International was added to my Stock Picks Yield and Growth on 5 July 2011 when the share was S$0.265. I was attracted by its steady growth and strong order book, its foray into property and its dividend of 2.2 cents. I was surprised last night to receive a telephone call that both the Indepdent and Non Executive Chairman Bertie Cheng and its CEO/MD CK Phua were assisting the CAD and were the target of a CAD investigation in an announcement filed on the SGX website. The second announcement clarified the first that the two persons were the target of the investigation for an offence apparently committed between July 2008 and to March 2009.
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