Hyflux subsidiary’s former HR manager faces corruption charges
Khoo Chen Ee, a former HR manager of Hyflux subsidiary Hydrochem, has been charged with three counts of corruption by Singapore’s Corrupt Practices Investigation Bureau (CPIB).
Khoo allegedly agreed to accept SGDS$7,000 from Elumalai Selvakumar, a director of Leeds HR Solution, in return for “furthering the business interest of Leeds with Hydrochem,” the CPIB said.
Hydrochem is the predecessor of Hyflux and was set up in 1989 by founder and CEO Olivia Lum. It became a wholly owned subsidiary of Hyflux when Hyflux was incorporated in March 2000.
According to Hyflux, Khoo is no longer an employee of Hydrochem, having resigned and left the company in December 2018. Khoo faces a fine of up to S$100,000, imprisonment of up to five years, or both.
In a separate development, Hyflux and its current and former directors are being investigated by Singapore authorities for suspected false statements and disclosure requirement breaches, as well as non-compliance with accounting standards.
A joint statement from the Commercial Affairs Department (CAD), the Monetary Authority of Singapore (MAS) and the Accounting and Corporate Regulatory Authority (ACRA), said, “The investigation will ascertain whether there were lapses in Hyflux’s disclosures concerning the Tuaspring Integrated Water and Power Project (Tuaspring IWPP), as well as non-compliance with accounting standards between 2011 and 2018.”
Despite the water treatment firm’s woes, it was reported that United Arab Emirates utility firm Utico “remains committed” to a S$400 million rescue deal with Hyflux.