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Independent investigation into TEE International unearths potential legal breaches: PwC

Management & Corporate Governance

Independent investigation into TEE International unearths potential legal breaches: PwC

Stanislaus Jude Chan Published on Wed, Mar 04, 2020 / 4:19 AM GMT+8

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SINGAPORE (Mar 3): A summary report by external investigator PricewaterhouseCoopers Risk Services (PwC) on Mainboard-listed TEE International has revealed several potential breaches of the Companies Act as well as possible non-compliance with Singapore Exchange (SGX) Listing Rules and the Code of Corporate Governance.

TEE International in September last year appointed the external third party independent investigator to look into unauthorised payments totalling $6.55 million.

The unauthorised remittances were discovered by the group when it was preparing its financial statements for the full year ended May 31, 2019.

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Independent investigation into TEE International unearths potential legal breaches: PwC

Management & Corporate Governance

Independent investigation into TEE International unearths potential legal breaches: PwC

Primary tabs

Error message

Independent investigation into TEE International unearths potential legal breaches: PwC

Management & Corporate Governance

Independent investigation into TEE International unearths potential legal breaches: PwC

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