3½ years' jail for ex-director at multiple firms who pocketed $7m

He held directorships in companies including Ambertree and Barang Barang

- Shaffiq Alkhatib

A former director at multiple firms who misappropriated $7 million was sentenced to three years and six months' jail on June 24.

At the time of the offences in 2014, Lee Boon Teck, 58, was the executive chairman and managing director of investment holding company KLW Holdings (KLWH) - now known as HS Optimus Holdings - and its group of companies.

The Singaporean also held directorships in several companies within the group, including Ambertree and Barang Barang.

When he was charged in 2021, he was no longer a director at HS Optimus Holdings, Ambertree and Barang Barang.

Lee pleaded guilty in May 2025 to one count each of criminal breach of trust and falsification of accounts. Ten other charges were considered during his sentencing.

His case is allegedly linked to that of Chan Ewe Teck, 60, then the sole director and shareholder of a firm called Straitsworld Advisory, which provided consultancy services to other companies.

The Singaporean is now known as Michael ET Chan, and his case is pending.

In earlier proceedings, the prosecution said that Chan began in 2011 to introduce business opportunities for KLWH through Lee.

Among these were projects in Zhangye, China, for the acquisition of a state-owned hotel there and the development of the land surrounding the property.