Former executive chairman pleads guilty to corruption

SINGAPORE: The former executive chairman of locally—listed AEM—Evertech Holdings Limited (AEM—Evertech) has pleaded guilty to four charges of corruption on Wednesday.

Tok Kian You, 51, admitted to giving bribes of S$106,484.29 to Siow Sing Heng, a manager in STS Shenzhen, in 2004.

The money was a reward for Siow for recommending that more business be awarded to AEM—Evertech.

AEM—Evertech is in the business of designing and manufacturing equipment, precision engineering products and chemicals.

In mitigation, Tok’s lawyer, Mr Edmond Pereira, said that it was a "sheer stupid act" on Tok’s part in consenting to agree to give the bribes.

Mr Pereira added that the quality of the equipment provided by AEM—Evertech was not compromised.

The Deputy Public Prosecutor said that greater harm could be generated by the act and a culture of corruption may be established if such doings are not checked.

The maximum penalty for corruption is a S$100,000 fine and five years’ jail on each charge.

Tok will be sentenced on August 15.

— CNA/wm