Response to "Time to end China Sky saga" - Business Times, 3 July 2014
16 July 2014
The Editor BT Forum
Joint Response by MAS & CAD on Letter published in BT regarding China Sky
We refer to Mr Mano Sabnani’s letter “Time to end China Sky saga” (Business Times, 3 July 2014). The Commercial Affairs Department’s (CAD) investigations into China Sky Chemical Fibre Co. Ltd (China Sky) are ongoing. The time taken for investigations depends on several factors, including the co-operativeness of the relevant parties, especially when there is a foreign dimension.
The Singapore Exchange Limited (SGX), the CAD and the Monetary Authority of Singapore (MAS) work closely together to ensure a fair, clean and orderly capital market in Singapore. The close cooperation among the three agencies has led to successful criminal prosecutions and civil penalty actions against offenders who breach our securities laws. The CAD, MAS and SGX are committed to resolving the case of China Sky expeditiously.
SUPT Ho Yenn Dar Assistant Director, Public Communications Public Affairs Department Singapore Police Force
Bey Mui Leng Director (Communications) Monetary Authority of Singapore