Tee International fires ex-CEO and director

Phua Chian Kin was involved in unauthorized remittances in the company.

Tee International has immediately terminated ex-CEO Phua Chian Kin after he admitted to using company funds for personal use, according to an SGX filing. With this, Phua is required to resign as director of the company and the group.

Phua will continue to be available to assist the company if he is requested to do so. He has told the company’s board that he will continue to cooperate fully in the investigations, and will keep them updated on material developments of the investigations.

The firm has also been informed that Phua has been interviewed by the Commercial Affairs Department of the Singapore Police Force (CAD), in relation to an offence under the Penal Code pursuant to the provisions of the Criminal Procedure Code.

Phua has surrendered his travel documents to the CAD.