CPIB questions Multi-Chem chiefs as stock trading halted

The Corrupt Practices Investigation Bureau (CPIB) has brought in the chief executive and chief operating officer of Multi-Chem for questioning as part of an ongoing investigation. The company's stock was suspended from trading on the Singapore Exchange following the development, triggering an automatic circuit breaker halt.

Both executive directors have been placed under bail conditions and ordered to surrender their travel documents and mobile phones to investigators. The specific nature of the alleged wrongdoing has not been disclosed by authorities.

The suspension of Multi-Chem's shares marks a significant development for the company, which is listed on the mainboard of the Singapore Exchange. Trading in the stock remained halted pending further announcements from the company or regulatory updates.

Investigations by the CPIB typically involve allegations of corruption or misconduct in the private sector. The agency has not released further details regarding the scope or timeline of the current inquiry into Multi-Chem's management.