Brief: Tiong Seng Receives Whistle Blower Report Regarding Conduct Of Former MD Of Unit

TIONG SENG HOLDINGS

29/08/2023 16:59

Aug 29 (Reuters) - Tiong Seng Holdings Ltd  TISE.SI :
    * RECEIVED WHISTLE BLOWER REPORT REGARDING CONDUCT OF FORMER
MANAGING DIRECTOR OF UNIT
    * MANAGING DIRECTOR OF SUBSIDIARY STEPPED DOWN ON 12
SEPTEMBER
2022
    * CONDUCTED AN INTERNAL INVESTIGATION
    * IN VIEW OF INVESTIGATION FINDINGS, RVD HAD ON 4 AUG LODGED
POLICE REPORT AGAINST FORMER MD OF UNIT
    * FOUND MANAGING DIRECTOR OF RVD AND WIFE DIVERTED BUSINESS
AND
PROFITS TO SW METAL & CONSTRUCTION PTE
    * TIONG SENG HOLDINGS LTD SEES POTENTIAL LOSS TO RVD IS S$3
MILLION.

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