Ex-COO of Singaporean animal feed company charged with bribing manager at Malaysian firm
Hooi Siew Yan was charged with one count of corruption, as well as two charges of falsification of accounts.
SINGAPORE – The former chief operating officer (COO) of a Singaporean company that sells animal feed was charged on July 24 with handing bribes to a manager at a Malaysian company.
Hooi Siew Yan, 68, was charged with one count of corruption, as well as two charges of falsification of accounts.
According to a press release from Corrupt Practices Investigation Bureau (CPIB), Hooi, a Singaporean, was the managing director of MJI Universal from July 2007 to November 2019, before becoming its COO until November 2022.
According to company records, MJI's primary activity is classified under the category of wholesale agricultural raw materials and live animals, while a post on MyCareersFuture.sg said the company specialised in the import and export of feed ingredients, such as feed products, grain and meal commodities.
Between 2019 and 2020, on eight to 10 occasions in Kuala Lumpur, Hooi is alleged to have given bribes in the form of cash amounting to at least US$100,000 (S$128,000) to a procurement manager of a Malaysian company, identified in court documents as Chee Yew Teng.
This was done through a middleman, identified as Ng Kwok Chyuan, and was an alleged reward to further the business interest between MJI and the Malaysian company named in court documents as Charoen Pokphand Malaysia.
Under the Prevention of Corruption Act, a Singapore citizen who commits a corruption offence outside of Singapore may be dealt with as if that offence had been committed within Singapore, CPIB noted.
Top stories
Swipe. Select. Stay informed.
Asia Thai and Cambodia militaries clash at disputed border
World Trump was told he is in Epstein files, Wall Street Journal reports
Opinion The US dollar is down, but it has a lot going for it
Singapore Judge asks prosecution for more information on Kpods in first case involving etomidate-laced vapes
Singapore Singapore Oceanarium will enhance tourism while supporting sustainability: Grace Fu
Singapore 5 teens arrested for threatening boy with knife, 2 charged with causing hurt
Singapore Over 1.15 million Singaporeans aged 21 to 59 have claimed SG60 vouchers
Opinion Cinemas struggle in a world that cannot sit still
Between December 2020 and July 2022, Hooi allegedly instigated Ng to submit 35 invoices to MJI with inflated payments amounting to about US$72,500. The invoices were from a firm called NK Nutraceuticals, where Ng was director.
Hooi is said to have done this is conspiracy with two other MJI employees – identified as Toru Sato and Chua Lay Peng – with the intent to defraud the Singaporean company.
According to court records, Hooi did not indicate during the hearing on July 24 if he will be pleading guilty or claiming trial to his charges.
His case is scheduled for a further mention in court on Aug 28.
If convicted of corruption, Hooi can be jailed for up to five years, fined up to $100,000 or both.
Those found guilty of engaging in a conspiracy to make false entries in papers can be jailed for up to 10 years, fined, or both, for each charge.
As Hooi's two charges related to this offence involves two or more alleged incidents of the commission of the same offence, he can face twice the amount of punishment for each charge.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CNA
8 minutes ago
- CNA
Euro gains as investors cautiously welcome US-EU trade deal
NEW YORK: Investors cautiously embraced news of a trade deal on Sunday (Jul 27) between the US and European Union that is expected to bring clarity for companies and some certainty to markets ahead of US President Donald Trump's Friday tariffs deadline. The euro rose against the US dollar, up 0.27 percent at US$1.177. The currency also gained 0.2 percent against both the pound and the Japanese yen. Trump announced the United States has struck a framework trade deal with the EU that includes a 15 percent tariff on EU goods entering the US and significant EU purchases of US energy and military equipment. European Commission President Ursula von der Leyen said the deal includes "cars, semiconductors and pharmas." The deal is similar to parts of the framework agreement the US clinched with Japan last week. "It's really in line with the Japan deal, and I assume investors will view it positively as they viewed the Japan deal," said Rick Meckler, partner at Cherry Lane Investments in New Vernon, New Jersey. Optimism over easing trade tensions broadly helped push US stocks to record highs last week and lifted European shares to their highest since early June. Trump's Apr 2 "Liberation Day" announcement of sweeping global tariffs sent stocks plunging in the immediate aftermath, due to spiking fears about a recession that have since faded. "I don't think equities in particular needed much of an excuse to rally and now they've got one," said Michael Brown, senior research strategist at Pepperstone in London. Still, investors have been bracing for increased volatility heading into Aug 1, which the US has set as a deadline for raising levies on a broad swath of trading partners. "We will need to see how long the sides stick to the deal. From a market perspective, it is reassuring in the sense that having a deal is better than not having a deal," Eric Winograd, chief economist at investment management firm AllianceBernstein, said about the EU agreement.
Straits Times
38 minutes ago
- Straits Times
Three people killed in train crash in Germany, police say
Find out what's new on ST website and app. Three people were killed and others seriously injured when a passenger train derailed in southwestern Germany on Sunday, police said in a statement. There were around 100 people on board, police in the city of Stuttgart said, adding that two carriages had left the tracks between the towns of Riedlingen and Munderkingen. The train was on a roughly 90 km (55 mile) route between Sigmaringen and Ulm, a police spokesperson said earlier on Sunday. The cause of the crash was under investigation, the police statement said. A picture by German news agency DPA showed carriages largely intact but jackknifed into each other and rolled onto their sides. REUTERS
Straits Times
38 minutes ago
- Straits Times
How SMEs can strengthen cybersecurity and protect the bottom line
As cyber threats grow, small and medium-sized enterprises can fortify their defences and ensure financial flexibility with comprehensive support from Singtel and GXS Bank With the right training and financial tools, SMEs can strengthen their cyber defences and stay agile in managing cash flow. It has never been easier for cybercriminals to launch attacks on your business. Today, threat actors can easily access dark web marketplaces and purchase ready-made ransomware to cripple operations and drain finances. In the first half of this year, Nordstellar reported a 49 per cent increase in global ransomware cases exposed on the dark web. Among the hardest hit were small and medium-sized enterprises (SMEs). Here in Singapore, the Cyber Security Agency of Singapore (CSA) shared that SMEs made up 84 per cent of cybersecurity victims in 2023. Yet, their survey revealed that two in three companies had yet to implement basic cybersecurity measures. Nearly 60 per cent of surveyed companies said they lacked the knowledge and experience, while 39 per cent were held back by a lack of resources and manpower. As 5G mobile connectivity fuels digital growth across Asia-Pacific – projected to add nearly US$130 billion (over S$160 billion) to the region's economy by 2030 – businesses are unlocking new opportunities. At the same time, this expanded digital footprint widens the attack surface, leaving companies more vulnerable to cyber threats driven by artificial intelligence. To help SMEs overcome these challenges, Singtel has made enterprise-grade cybersecurity accessible and hassle-free with its two-pronged approach – Singtel Cyber Elevate and Fortinet Unified Threat Management. Elevate your cybersecurity know-how When a cyberattack strikes, the difference between survival and catastrophe often comes down to how well your team is prepared to recognise, respond to and recover from it. Singtel Cyber Elevate is a comprehensive training and cyber incident management programme that helps SMEs build this resilience through mentorship and practical guidance. It is conducted by Mr Wilson Tan, Singtel Enterprise's senior director of Cyber Consulting, Education & Professional Service, who brings over 25 years of experience in telecommunications and leads Singtel's Cyber Security Institute – a top facility for cyber resiliency training in Asia. With government subsidies of up to 90 per cent, the programme is highly accessible to eligible SMEs. Singtel's Cyber Elevate programme helps SMEs in Singapore strengthen their cybersecurity defences through hands-on training, expert support and cyber incident management. PHOTO: SINGTEL Local facilities management company Advancer took part in the programme's two-day workshop and underwent a cybersecurity posture assessment, akin to a full-body scan to uncover gaps in the company's cyber defences. 'We were commended for having good general awareness around phishing attempts and safe browsing habits among our staff,' says Mr Gary Chin, Advancer's chief executive officer. 'However, the assessment identified gaps in formal documentation, escalation paths and consistent response protocols.' Trainers worked directly with the Advancer team to streamline workflows, establish clearer protocols and tighten security across their entire operation. Through realistic cyberattack simulations, the team experienced first-hand the intense pressure of phishing and ransomware attacks without the devastating consequences. It was a strong wake-up call. Mr Chin says: 'We realised that even small teams can be high-value targets due to the sensitive data that we handle. We also learned that having a response plan is crucial to reducing chaos during a real incident.' The Singtel Cyber Elevate programme also helps SMEs strengthen compliance with legal obligations, such as the Personal Data Protection Act, and equips employees with skills to manage stakeholders during a data breach. SMEs will also receive legal and forensics support for a year from law firm Drew & Napier, and cyber incident response company Blackpanda. Mr Gary Chin, CEO of facilities management company Advancer, says the Singtel Cyber Elevate programme helped the team identify security gaps and embed cybersecurity into their daily operations. PHOTO: ADVANCER 'The programme provided clear guidance and practical insights that were easy to understand and apply,' says Mr Chin. 'Cybersecurity is now included in our budgeting and has become a core part of our operations.' Says Singtel Enterprise's Mr Tan: 'It is important to develop an assumed breach mindset to better respond and recover from cyber breaches. Singtel Cyber Elevate seeks to be that safety net that allows companies to build cyber resiliency against the impact of breaches affecting organisations.' But training your team is just the first line of defence. Your network infrastructure needs fortress-level protection too. All-in-one network protection With employees using multiple devices, your network faces more potential entry points for cybercriminals to exploit. A single unprotected device can compromise your entire company. To shut attackers out, the Singtel-Fortinet Unified Threat Management system provides comprehensive protection for your business network. SMEs that adopt this solution will be eligible for up to 50 per cent funding on qualifying costs through the Government's Productivity Solutions Grant . Developed by Singtel and global cybersecurity leader Fortinet, this solution helps safeguard every device connected to your network, from office computers and laptops to wireless devices, IP phones and even employees' personal devices. Acting as a central command hub, it blocks threats before they breach your systems, secures wireless access, and protects essential communications like emails and voice calls. It also fine-tunes your network based on your business priorities, so your most critical applications can run smoothly and securely. Everything is managed through a single platform, making it easy and hassle-free for any business to stay protected. More on this topic Navigating uncertainty: How your new business can adapt and grow with the right support Securing financial health with GXS bank For SMEs, digital security is only half the battle – a healthy cash flow is just as critical. For many business owners, having access to financial support can be a leg-up as they build and grow resilient companies. Business owners such as sole proprietors and start-ups often face hurdles when opening business accounts or applying for loans. High fees, strict requirements and lack of collateral can limit access to funds, right when these businesses need them most. GXS Bank built its GXS Biz Account to help address these challenges head-on. The GXS Biz Account offers no minimum balance or monthly fees, and daily interest rates from 1.68 per cent a year. SMEs enjoy a clear separation of personal and business finances, and they can receive and make unlimited free payments through PayNow and Fast. New customers who sign up for a GXS Biz Account with the promo code 'SG60' will receive $60 in cash. Visit this link to find out more . For businesses that need an extra boost, the GXS FlexiLoan Biz offers up to $150,000 in unsecured financing with interest from 4.99 per cent a year (Effective Interest Rate at 9.32 per cent a year). There are no annual or early repayment fees, and SMEs have full flexibility to repay early without additional costs. You can also get loans starting from $1,000 in a matter of minutes. GXS Bank also offers up to $1 million in access to working capital loans, invoice financing and purchase order financing through GXS Capital , its wholly-owned subsidiary. This enables SMEs to unlock funds based on outstanding invoices – helping them smooth out cash flow and invest in growth without waiting for payment cycles to clear. By easing day-to-day financial pressure, GXS Bank empowers SMEs to act quickly when opportunities arise. Whether you are protecting your business from ransomware or scaling up with agility, Singtel and GXS Bank offer the end-to-end protection and flexibility that SMEs need in a high-risk, high-potential world. Find out more about the Singtel Cyber Elevate programme here . Disclaimer: GXS Business Banking consists of products and services provided by GXS Bank and GXS Capital, which are licensed and regulated by the Monetary Authority of Singapore. GXS Bank and GXS Capital are separate entities and are not associated with the businesses of SPH, Grab, Singtel, or their entities. Approval of your application is subject to the receipt of all supporting documents, review, and processing time. Terms and Conditions apply. Deposit Insurance Scheme: Singapore dollar deposits of non-bank depositors are insured by the Singapore Deposit Insurance Corporation, for up to S$100,000 in aggregate per depositor per Scheme member by law. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured. Effective Interest Rate (EIR) is calculated based on an average loan amount of S$10,000 with a 24-month repayment period, from 1 Jan 2025 to 1 Jan 2027.
