http://www.straitstimes.com/business/jes-probe-into-dodgy-payments-delayed

JES probe into dodgy payments delayed

8 HOURS AGO

Marissa Lee

A female employee has delayed an investigation into dubious payments to the former boss of Chinese shipbuilder JES International by “absconding” with the company’s books. JES International has begun legal proceedings in China against the woman, administrative officer Ju Li Li, to recover the documents. After Mr Jin Xin, the group’s former chief executive and chairman, resigned in March, Ms Ju “absconded” with the group’s administration records and seals of all its Chinese subsidiaries, JES told the Singapore Exchange last night.

JES, now helmed by Mr Jin’s daughter, Ms Audrey Jin Yu, said it had intended to investigate its financials after uncovering possible irregularities during a periodic review. These included “questionable transactions” between the group and companies in which Mr Jin’s interests were not declared, JES said. Continue reading →