Founder of Trek 2000, firm that invented thumbdrive, fined S$80,000 for not disclosing S$14 million of transactionswww.channelnewsasia.comMon, 24 Aug 2020 12:32:00 +0800
Tan also attended meetings where the topic of interested person transactions was discussed, but did not reveal his son's shareholding in T-Data.
Tan incorporated another firm, S-Com Solutions (Hong Kong) Co Limited, in October 2005 and was its sole shareholder.
Trek 2000 and its subsidiaries entered into various transactions with S-Com HK in 2010, with a value exceeding US$1,1149,119 or the threshold of 3 per cent of the group's audited net tangible assets.
In total, there were six transactions made with a total value of US$882,256 between the group and S-Com HK in the financial year of 2010.Read more...