Executives of two Singapore listed companies are among the clutch of contractors who have been charged for bribing Henry Foo Yung Thye, who was a deputy group director at the Land Transport Authority when the offences allegedly took place.
Foo allegedly received a total of $1.24 million in loans from the contractors between 2014 and 2019, so as to deal with his gambling debts. He borrowed $726,500 from his LTA colleagues as well. He faces a total of 36 charges and his bail was set at $250,000.
Cai Jungang, executive director of specialist engineering firm Tritech Group, is charged with giving a loan of some $285,000. He has resigned from the company.
Just on June 10, the company announced it has won a $23 million contract from LTA as part of the Jurong Region Line.
Pay Teow Heng, project director of construction firm Tiong Seng Holdings, was charged as well, for giving Foo $200,000. Pek Lian Guan, CEO of the company, faces charges too.
Tiong Seng first disclosed the investigations involving Pek and Pay last September.
In addition, two executives at Daewoo Engineering and Construction have been charged too. They are Ro Sungyoung and Kim Young-Gyu.
Zhang Xihu, a director of MEPT Engineering at the time of the alleged offences, similarly, is accused of bribing Foo.
Last but not least, China Railway Tunnel Group (Singapore Branch) is accused of bribing Foo with $220,000.
As at 1.15 pm, Tritech shares traded at 1.6 cents, unchanged for the day. Trading of Tiong Seng shares were halted. It was last done at 15.2 cents.
