LEADER Environmental Technologies executive chairman and chief executive Lin Yucheng, as well as deputy chief technology officer Guo Chenghong, are in a Commercial Affairs Department (CAD) probe over the offence of insider trading.

 

The environmental services provider said in a bourse filing late on Thursday that Dr Lin and Dr Guo informed that they each received a letter dated July 7 from the Singapore Police Force (SPF), Monetary Authority of Singapore and CAD informing them of the investigation.

 

They were also asked to attend interviews with CAD. Later, they each received a letter from the SPF dated July 7 requiring them to surrender their travel documents to CAD as part of police investigations as there had " arisen reasonable grounds for believing that they had committed an offence" .

 

CAD has further seized certain electronic devices - including mobile phones and laptops - belonging to Dr Lin and Dr Guo for forensic purposes.

 

As the investigations are ongoing and no formal charges have been filed, LET' s nominating committee holds the view that Dr Lin and Dr Guo should continue to discharge their responsibilities and duties as normal, a recommendation accepted by the board.

 

LET said its business and operations are not affected by the investigations and will continue as normal.