SINGAPORE: The Monetary Authority of Singapore( MAS ) and the Commercial Affairs Department ( CAD ) are working together with the property consulting firm Sevens Atelier to look into a crime under the Securities and Futures Act.
In a filing on the Singapore & nbsp, Exchange ( SGX ), the company made this announcement on Wednesday( Sep 20 ).
It claimed to have been given the go-ahead to deliver documents and information to the economic crimes division of the police, MAS and CAD.
These include all letters and the corresponding parts in the company’s business email accounts, including those of Tang Yao Zhi, a member of the management team, Richard Koh Chye Heng, executive chairman, and Lim Xiu Fang Vanessa.
Sevens Atelier, headquartered in Singapore and nbsp, is referred to on its website as a” full-fledged consultancy service for the Design & amp, Build of premium landed properties in Sydney and Australia.”
Pan Asian Holdings Limited was the previous name of Sevens Atelier until June 2022.
Additionally, the authorities and nbsp requested supporting documentation for announcements made by Sevens Atelier on a number of occasions in 2021 and 2022, including the visit of an executive director, proposed growth, learning, waste, and title change.
On June 22, 2021, Mr. Sylvester Lim Wei Zhi purchased stocks from Xu Jia Zu Holdings, the controlling shareholder at the time, according to one of the announcements.
With the purchase of the & nbsp, S$ 3 million( US$ 2.19 million ), Mr. Lim took over as the new controlling shareholder.
On September 8, 2021, his sister, Ms Lim, & nbsp, was named executive director of the business.
In its SGX statement, Sevens Atelier stated that” The board and the management team will cooperate fully with the authorities on their investigation.”
” As soon as there are significant developments, the company will make more announcements” regarding the aforementioned research.
For more details on the analysis, CNA has gotten in touch with MAS and the Singapore Police Force.