A copy of that letter is attached and marked "RF5". In addition,
in a letter to BMFL dated 18th October 1982 Mr. Bentley Ho then
Executive Director of CHL and CIL asked for CIL debt to be
transferred to CHL. A copy of this letter is attached and marked
"RF6".
21.
THE matters of the understatement of the Carrian Group
debt and the apparent preference shown to BMFL by at least George
TAN of CHL were put to, inter alia, directors, financial advisers
and auditors of CHL and CIL by me at a meeting held at my Office
on the 10th September 1983. I handed to all parties present at
that meeting an Aide Memoire recording these matters and that it
is now attached hereto and marked "RF7". At the same time I
requested those present to consider the document and to urgently
provide explanations of the matters raised therein.
22.
AT the behest of the Securities Commission, on various
occasions I have continued to request explanations of these
matters from the various parties involved. In this regard, copies
of these requests are attached in the bundle marked "RF8". These
requests show that in addition to the debts owed by CHL and CIL
to BMFL, assets of CHL and CIL and their subsidiaries had been
pledged to or deposited with BMFL.
23.
ON 28th September 1983 I met at my Office with legal
advisers of BMFL, CHL and CIL and of Geroge TAN. At this meeting
a statement was tabled by the BMFL advisers stating inter alia
that whereas BMFL maintained the "correctness of its books" which
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