Written Reply to Parliamentary Question on Investigations into the Chairman and Management of Swiber Holdings and Related Companies, by Mr K Shanmugam, Minister for Home Affairs and Minister for Law

Question:

Mr Dennis Tan Lip Fong: To ask the Minister for Home Affairs (a) whether the Commercial Affairs Department (CAD) has completed its investigation of the chairman and management of Swiber Holdings and its related companies; and (b) if so, whether CAD will proceed with any charges for any breach of the Securities and Futures Act or other offences.

Answer:

1. Police investigations into Swiber Holdings Limited and its subsidiaries are ongoing.  Investigations of this nature require the careful review of a large volume of documents. It is inappropriate to comment further on the case, so as not to prejudice the investigation.