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PR Newswire
09-04-2017, 07:14 PM
Section 197, Securities and Futures Act, Cap. 289 => False trading and market rigging transactions ??
Information regarding Executive Chairman and Chief Executive Officer and Executive Director
KS Energy Limited is announcing that the company has been informed that its Executive Chairman and Chief Executive Officer of the Company, Mr. Kris Taenar Wiluan and Executive Director, Mr. Richard James Wiluan have been interviewed by the Commercial Affairs Department of the Singapore Police Force in its investigations into a potential contravention of the provisions, in particular Section 197, of the Securities and Futures Act, Cap. 289 by both of them.
Mr. Kris Wiluan was released after his interview with CAD and posted bail while Mr. Richard Wiluan was released after his interview without requiring bail. Both have informed the Board of Directors that they have and will continue to cooperate fully in the investigations, including granting access to all their electronic data, IT equipment and data storage devices from January 2015.
The company has not been approached by the CAD regarding its investigations and the CAD has not revealed any details to the Board. Mr. Kris Wiluan and Mr. Richard Wiluan will keep the Board updated on the progress of the investigations and the company will make further announcements as and when necessary. The business operations of the Group are continuing as usual.
Information regarding Executive Chairman and Chief Executive Officer and Executive Director
KS Energy Limited is announcing that the company has been informed that its Executive Chairman and Chief Executive Officer of the Company, Mr. Kris Taenar Wiluan and Executive Director, Mr. Richard James Wiluan have been interviewed by the Commercial Affairs Department of the Singapore Police Force in its investigations into a potential contravention of the provisions, in particular Section 197, of the Securities and Futures Act, Cap. 289 by both of them.
Mr. Kris Wiluan was released after his interview with CAD and posted bail while Mr. Richard Wiluan was released after his interview without requiring bail. Both have informed the Board of Directors that they have and will continue to cooperate fully in the investigations, including granting access to all their electronic data, IT equipment and data storage devices from January 2015.
The company has not been approached by the CAD regarding its investigations and the CAD has not revealed any details to the Board. Mr. Kris Wiluan and Mr. Richard Wiluan will keep the Board updated on the progress of the investigations and the company will make further announcements as and when necessary. The business operations of the Group are continuing as usual.
Specuvestor: Asset - Business - Structure.