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    Swiber issues update on investigation

    Company News // December 7, 2016

    Swiber Holdings Limited, at which Judicial Managers were recently appointed, has issued an update on the investigation of the company by the Commercial Affairs Department (CAD) in Singapore.

    The company said it had been informed by the CAD that the persons listed below had been interviewed by the CAD and that they were, between 30 November 2016 and 2 December 2016, released on bail in relation to alleged infringements under Section 199 of the Securities and Futures Act (Chapter 289 of Singapore):

    (a) Raymond Kim Goh (Executive Chairman of the Company);
    (b) Jean Pers (Executive Director of the Company);
    (c) Yeo Jeu Nam (Lead Independent Non-Executive Director of the Company);
    (d) Chia Fook Eng (Independent Non-Executive Director of the Company);
    (e) Oon Thian Seng (Independent Non-Executive Director of the Company);
    (f) Francis Wong Chin Sing (ex-Vice Chairman and ex-Executive Director of the Company);
    (g) Tay Gim Sin Leonard (Group Chief Financial Officer and ex-Executive Director of the Company); and
    (h) Nitish Gupta (ex-Executive Director of the Company).

    The company understands from the CAD that its investigations are still ongoing and that no formal charges have been brought against the above-mentioned persons.

    Separately, the company understands from the CAD that Yeo Chee Neng, the ex-Group Chief Executive Officer and an ex-Executive Director of the company, was also interviewed by the CAD in the course of the investigations. However, he was not placed on bail.

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