Former Pokka International CEO and 2 Kimly directors charged over disclosure offences
SINGAPORE: The former chief executive of Pokka International and two directors of coffee shop operator Kimly were charged in court on Friday (Nov 12) over disclosure offences, the police said in a news release.
Former Pokka International CEO Ong Eng Sing, 46, was charged with three counts of failing to disclose his indirect interest in a transaction with Pokka International.
Chia Cher Khiang and Lim Hee Kiat were each charged with one count of failing to notify the Singapore Exchange (SGX) of Kimly's acquisition of drinks company Asian Story Corporation (ASC), which was announced on Jul 2, 2018.
It was alleged that the acquisition was an interested person transaction, which should have been disclosed under the SGX Catalist Rules but was not, said the police.
Lim, who was the executive chairman of Kimly, was further charged with one count of failing to disclose his indirect interest in the acquisition.
According to court documents, Lim had partial beneficial ownership of ASC.
Chia was offered S$50,000 bail while Lim was offered S$70,000 bail.
It was alleged that Ong, who was a director in Pokka International and Pokka Corporation (Singapore), had partial beneficial ownership of ASC.
Ong had allegedly failed to disclose his interest to Pokka International and Pokka Corporation on three occasions when ASC entered into transactions with the two Pokka entities.
According to court documents, he had failed to disclose his interest sometime in 2010 during a distribution agreement between Pokka International and ASC.
Ong had also allegedly failed to disclose his interest during a manufacturing agreement between the two companies dated Aug 1, 2016.
Sometime around November to December 2017, the two companies agreed on a distribution framework, where ASC would supply Etika products to Pokka International. The latter would distribute the products in the general trade channel in Singapore.
The former CEO allegedly failed to disclose that ASC was a company he had partial beneficial ownership of, according to court documents.
For failing to disclose the acquisition was an interested person transaction, they may be jailed up to seven years, fined up to S$250,000, or both.
For failing to disclose their interest with the company, offenders may face a jail term of up to 12 months or a fine of up to S$5,000.
@GOD MODEProbably, but that isn't necessarily a bad thing. He can now spent time reflecting on how he went from being Pokka CEO to ending up as Mr Pokkai.
Self victimising now, are we? Resorting to using your children as a shield in this shitstorm?
Maybe your husband should’ve thought of that before he scammed Pokka as alleged by them. Or before you started bragging about your 8 million dollar property.
'I don't want my kids to be afraid to go home': Vivian Lai on husband's lawsuit
Vivian Lai has finally broken her silence since her husband Alain Ong was removed from his post at Pokka in 2018.
Speaking to local media, she revealed that media attention over the incident has disrupted her family life.
The sight of reporters stationed outside her house has started making her children afraid to return home, the actress-host said.
"Our home should be a warm place where our kids can feel at ease."
Although Vivian admitted that she is under immense pressure, she will carry on because she has to be strong for her family.
"No matter what happens, our family of four will stay united and weather this difficult period," the tired-looking host said as she choked up.
When the news first broke, the 43-year-old shared that she was shocked because she never thought something like this would happen to her.
However, she did not comment on the case, only saying that "the truth will reveal itself in time."
Her emotional response came following recent reports of Pokka suing Ong — who was formerly deputy group CEO of Pokka Corporation (Singapore) and CEO of Pokka International — and accusing him of being part of a conspiracy that caused the beverage company to suffer at least $10 million in losses.
Ong has since issued a statement through his lawyer, saying that he is simply assisting with investigations and that he's not the person being investigated.
Shortly after he was removed from his post last September, Vivian ended a 10-year-long stint as Pokka's spokesperson.
Kimly still acting damn steady and calm now.......
Kimly to develop own brand of coffees and teas amid probe
KIMLY Ltd - the Catalist-listed coffeeshop operator being investigated over a controversial purchase of a drinks firm that was later aborted - remains open to acquisitions and strategic alliances, but will look at this point at developing its own brand of coffees and tea, it said on Tuesday.
Erm..... she is from Taiwan, since she is now in Taipei, perhaps could be 回娘家...
Question though is, will she return to SG in the foreseeable future given that her hubby is presently knee deep in shit? :P
Why not just divorce his ass now; she could get half of what's left which might still be worth something, but probably not for long I reckon..... eventually all his assets might be frozen if found guilty?
Kimly directors under CAD, MAS probe; calls off acquisition of drinks maker
WHITE collar-crime investigators are probing coffeeshop operator Kimly's initial public offering and its acquisition of drinks maker Asian Story Corp (ASC), and have seized the passports of Kimly's executive directors, the company said late Thursday.
More at https://www.businesstimes.com.sg/companies-markets/kimly-directors-under-cad-mas-probe-calls-off-acquisition-of-drinks-maker
Seller of Asian Story to Kimly had links to Pokka
More at https://www.businesstimes.com.sg/companies-markets/seller-of-asian-story-to-kimly-had-links-to-pokka
Vivian Lai puts on a brave front, says “心晴朗没雨天" kym?
Former Pokka International CEO and 2 Kimly directors charged over disclosure offences
SINGAPORE: The former chief executive of Pokka International and two directors of coffee shop operator Kimly were charged in court on Friday (Nov 12) over disclosure offences, the police said in a news release.
Former Pokka International CEO Ong Eng Sing, 46, was charged with three counts of failing to disclose his indirect interest in a transaction with Pokka International.
Chia Cher Khiang and Lim Hee Kiat were each charged with one count of failing to notify the Singapore Exchange (SGX) of Kimly's acquisition of drinks company Asian Story Corporation (ASC), which was announced on Jul 2, 2018.
It was alleged that the acquisition was an interested person transaction, which should have been disclosed under the SGX Catalist Rules but was not, said the police.
Lim, who was the executive chairman of Kimly, was further charged with one count of failing to disclose his indirect interest in the acquisition.
According to court documents, Lim had partial beneficial ownership of ASC.
Chia was offered S$50,000 bail while Lim was offered S$70,000 bail.
It was alleged that Ong, who was a director in Pokka International and Pokka Corporation (Singapore), had partial beneficial ownership of ASC.
Ong had allegedly failed to disclose his interest to Pokka International and Pokka Corporation on three occasions when ASC entered into transactions with the two Pokka entities.
According to court documents, he had failed to disclose his interest sometime in 2010 during a distribution agreement between Pokka International and ASC.
Ong had also allegedly failed to disclose his interest during a manufacturing agreement between the two companies dated Aug 1, 2016.
Sometime around November to December 2017, the two companies agreed on a distribution framework, where ASC would supply Etika products to Pokka International. The latter would distribute the products in the general trade channel in Singapore.
The former CEO allegedly failed to disclose that ASC was a company he had partial beneficial ownership of, according to court documents.
For failing to disclose the acquisition was an interested person transaction, they may be jailed up to seven years, fined up to S$250,000, or both.
For failing to disclose their interest with the company, offenders may face a jail term of up to 12 months or a fine of up to S$5,000.
https://www.channelnewsasia.com/business/former-pokka-ceo-ong-eng-sing-kimly-directors-court-disclosure-2308571
BREAKING: Vivian Lai's hubby tio charged in court!
I am more curious as to whether they would eventually divorce.
Self victimising now, are we? Resorting to using your children as a shield in this shitstorm?
Maybe your husband should’ve thought of that before he scammed Pokka as alleged by them. Or before you started bragging about your 8 million dollar property.
'I don't want my kids to be afraid to go home': Vivian Lai on husband's lawsuit
Vivian Lai has finally broken her silence since her husband Alain Ong was removed from his post at Pokka in 2018.
Speaking to local media, she revealed that media attention over the incident has disrupted her family life.
The sight of reporters stationed outside her house has started making her children afraid to return home, the actress-host said.
"Our home should be a warm place where our kids can feel at ease."
Although Vivian admitted that she is under immense pressure, she will carry on because she has to be strong for her family.
"No matter what happens, our family of four will stay united and weather this difficult period," the tired-looking host said as she choked up.
When the news first broke, the 43-year-old shared that she was shocked because she never thought something like this would happen to her.
However, she did not comment on the case, only saying that "the truth will reveal itself in time."
Her emotional response came following recent reports of Pokka suing Ong — who was formerly deputy group CEO of Pokka Corporation (Singapore) and CEO of Pokka International — and accusing him of being part of a conspiracy that caused the beverage company to suffer at least $10 million in losses.
Ong has since issued a statement through his lawyer, saying that he is simply assisting with investigations and that he's not the person being investigated.
Shortly after he was removed from his post last September, Vivian ended a 10-year-long stint as Pokka's spokesperson.
https://www.asiaone.com/entertainment/i-dont-want-my-kids-be-afraid-go-home-vivian-lai-husbands-lawsuit
LOL this shameless couple still has the audacity to claim they were humiliated by Pokka's revelation.
Is MP for Marine Parade GRC and CEO NTUC FairPrice Co-operative Seah Kian Peng friends with Vivian and Alain?
Wrong leh, Shit Times says he is being sued for loss of $10m
https://www.straitstimes.com/singapore/pokka-sues-ex-ceo-alain-ong-alleging-he-was-part-of-conspiracy-that-caused-10m-loss
Looks like Miss Big Cock's million dollar house is about to go under the hammer.
Oh my god........Pokka sues Vivian Lai's hubby for $6.51m!!!!!!
Kimly still acting damn steady and calm now.......
Kimly to develop own brand of coffees and teas amid probe
KIMLY Ltd - the Catalist-listed coffeeshop operator being investigated over a controversial purchase of a drinks firm that was later aborted - remains open to acquisitions and strategic alliances, but will look at this point at developing its own brand of coffees and tea, it said on Tuesday.
https://www.businesstimes.com.sg/companies-markets/kimly-to-develop-own-brand-of-coffees-and-teas-amid-probe
Kimly's exec chairman, exec director arrested by CAD, released on bail
https://www.businesstimes.com.sg/companies-markets/kimlys-exec-chairman-exec-director-arrested-by-cad-released-on-bail
Big cock lover next to be invited for a coffee drinking session?
Appears Kimly has resumed trading on SGX, though its current stock price is already down by more than 10% compared to pre-suspension numbers.......
Erm..... she is from Taiwan, since she is now in Taipei, perhaps could be 回娘家...
Question though is, will she return to SG in the foreseeable future given that her hubby is presently knee deep in shit? :P
Why not just divorce his ass now; she could get half of what's left which might still be worth something, but probably not for long I reckon..... eventually all his assets might be frozen if found guilty?
Meanwhile, Vivian Lai is holidaying abroad without a care in the world.......
Uh oh.....
Kimly directors under CAD, MAS probe; calls off acquisition of drinks maker
WHITE collar-crime investigators are probing coffeeshop operator Kimly's initial public offering and its acquisition of drinks maker Asian Story Corp (ASC), and have seized the passports of Kimly's executive directors, the company said late Thursday.
More at https://www.businesstimes.com.sg/companies-markets/kimly-directors-under-cad-mas-probe-calls-off-acquisition-of-drinks-maker
Seller of Asian Story to Kimly had links to Pokka
More at https://www.businesstimes.com.sg/companies-markets/seller-of-asian-story-to-kimly-had-links-to-pokka
Where is the couple hiding? Come out come out, wherever you are!
Latest from Shin Min News.
Her Instagram account hasn't been updated since 24 September hmm