16 July 2014

The Editor
BT Forum

Dear Editor

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