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MAS looking into allegations of improper conduct by UOB made by ex-logistics CEO
MAS said that it had responded to Koh and was looking into the complaints raised by him.
March 28, 2025, 01:32 PM
The Monetary Authority of Singapore (MAS) is looking into allegations of improper conduct by UOB, made by the former CEO of Yang Kee Logistics Pte Ltd, Ken Koh.
In a media release dated Mar. 28, MAS said that it was looking into the complaints raised by Koh as well as his allegations of legal and regulatory breaches against the bank.
UOB denounced allegations
Earlier today UOB issued a statement denouncing "certain allegations" that were made against it, calling them "baseless" and "defamatory".
In its Facebook statement, the bank assured customers that it "takes all feedback and concerns seriously" and highlighted its commitment to serving customers with integrity and fairness."Maintaining the trust our customers have in us is our highest priority."
The bank did not provide further details of said allegations nor the parties who published them.
However, the statement came one day after The Online Citizen published a piece containing allegations about the conduct of UOB executives over the sale of Yang Kee Logistics' properties to real estate company Logos, as well as their handling of confidential information.
UOB was the banker for Yang Kee Logistics, which went into receivership in 2022, where an external party was appointed to take control of the company's assets.
Before that, Yang Kee was a global company that had warehouses and offices across the world in Thailand, Indonesia, Hong Kong and China
Top image: UOB Group
