Singapore Kitchen Equipment CEO, ex-CFO charged with fraud, falsification of accounts

The CEO and former chief financial officer of Catalist-listed Singapore Kitchen Equipment face serious charges including fraud and falsification of accounts. Chua Chwee Choo, 58, the CEO and executive director, and Chow Mei Ling, 56, the former CFO, were charged in the State Courts alongside senior manager Koh Sai Eng, 68.

The trio is accused of conspiring between February and March 2021 to deceive Singapore Kitchen Equipment's auditor, BDO. They allegedly made false representations regarding bonus payments totaling approximately S$740,000 (US$579,500) made to employees of the company's subsidiary, Q'son Kitchen Equipment, in January 2020. The Singapore Police Force stated that the three women allegedly falsified over 100 payment vouchers to falsely suggest these bonuses were paid in January 2020, when they had not been.

Chow faces additional charges, including forgery and offenses under the Securities and Futures Act. The police detailed that between 2018 and 2019, Chow allegedly omitted eight payments, including the bonuses, totaling about S$1.4 million from Q'son's accounts. She is further accused of making false entries to include these payments in Q'son's accounts for the financial year ending December 31, 2020. Following these alleged actions, Singapore Kitchen Equipment purportedly made false statements about its profitability in its financial statements for fiscal years 2018 to 2020, with Chow's consent.

All three women are represented by lawyers who have requested adjournments to consult with their clients. Chua's lawyer indicated an application for overseas travel would be made. Their cases are scheduled to return to court on July 1. Penalties for these offenses can include lengthy jail sentences, substantial fines, or both, depending on the specific charge.