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A $5,000 hongbao (red packet) to a customer was one of the focal points in a recent Corrupt Practices Investigation Bureau (CPIB) probe involving the executive chairman of Accrelist and its subsidiary Jubilee Industries Holdings, Terence Tea, and two Jubilee senior management staff.
One of the two Jubilee senior staff is Serene Tea Lay Sin, who is Mr Tea’s sister and senior vice-president for the company’s mechanical business unit.
The other staff is Natasha Teh, who handles business development and project management for Jubilee’s mechanical business unit, both companies shared in separate announcements on Friday night.
The companies said the questions posed by CPIB were focused on an annual $5,000 hongbao Honfoong Plastic Industries – a Jubilee subsidiary – gave to a customer during a dinner.
The hongbao is part of a Chinese New Year tradition, which Jubilee understands has been Honfoong Plastic’s practice for several years, it said.
The CPIB also raised questions on a Chinese New Year dinner and drinks expense incurred during the gathering where the customer was present.
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