Phua Chian Kin

“The only way to stop it is if you were to isolate and shut ourselves out from the world. But I don’t think that’s a tenable situation” – Minister Lawrence Wong, co-chair of the Multi-Ministry Taskforce on Covid-19, on the risk of new spikes in the number

This comes a day after TEE International announced that the white-collar crime unit had raided its office and “taken certain documents and items from the premises”.

TEE International intends to cooperate fully with the CAD on its investigations.

Phua also admitted to PwC that he had made contradictory statements because of his “pride” – he did not want the Audit Committee to know that he was in need of cash.

SINGAPORE (Sept 17): Shares in TEE International rose as much as 31.4% on Tuesday after former CEO Phua Chian Kin, who is currently under investigation, was reportedly seeking to sell a 23% stake in the company.

SINGAPORE (Sept 16): Phua Chian Kin, the former CEO of TEE International, has signed a term sheet to sell 150 million shares he held in the company at 6 cents per share, or $9 million.

SINGAPORE (Sept 15): Phua Chian Kin, the controlling shareholder of Mainboard-listed TEE International, could be selling his shares in the company to certain third-party purchasers.

SINGAPORE (Sept 8): TEE International is appointing an external third party independent investigator to look into unauthorised payments totalling $6.55 million.

SINGAPORE (Aug 22): The proposed privatisation and delisting of TEE International by its group CEO has fallen through when put to the vote at a postponed meeting with shareholders on Monday.

SINGAPORE (April 2): Phua Chian Kin, group CEO and controlling shareholder of TEE International, is offering to buy out other shareholders for 21.5 cents a share, valuing the company at $108 million, announced the company on April Fool’s Day.