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AGV Group to assist MAS and CAD with probe into possible SFA offence

AGV Group said in a regulatory filing late on Wednesday that it had received notices from the Commercial Affairs Department (CAD) and the Monetary Authority of Singapore (MAS), asking for information and documents in relation to an alleged offence under the Securities and Futures Act (SFA). 

The offence was said to have been committed between July 2017 and March 2018.

The Catalist-listed provider of hot-dip galvanising services also disclosed that one of its directors has given a statement to the CAD, which investigates white-collar crimes.

AGV did not name the director in the statement. A check on the company’s website showed that it has five directors on its board. . 

AGV gave assurance that its business and operations have not been affected and will continue as usual. The investigation will also not affect the key executive management in the discharge of their respective roles and functions, the company added.

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The counter was up 0.2 Singapore cents at S$0.054 on Wednesday, before the announcement was made.

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