Dear Sirs, 

Petition to Deputy Prime Minister Gan Kim Yong, NTUC Secretary General Ng Chee Meng, Leader of Opposition Pritam Singh

We, the undersigned, are former employees of Yang Kee Logistics who have lost our livelihoods following the devastating fallout from the recent financial disputes between Yang Kee and United Overseas Bank (UOB). The series of events that unfolded has caused irreparable harm to hundreds of ordinary Singaporeans who depended on their jobs at Yang Kee to support their families. Our sudden unemployment has left many in financial distress, and we are deeply concerned about the lack of accountability demonstrated by the parties involved. Many of us had worked there for more than 20 years. During this time, the company had taken good care of us and is a very pro employee workplace.

As employees, we were dedicated to building a reputable logistics company contributing to Singapore’s global standing in supply chain excellence. Yet due to apparent lapses in corporate governance, questionable lending practices, and possibly financial misconduct, we now face uncertainty and hardship. Many of us are struggling to pay for housing, children’s education, and daily necessities, all of which has a knock-on effect on Singapore’s economic stability.

However, 3 months ago, our ex-CEO Mr. Ken Koh came forward and reveal recorded conversations with Mr. Edmund Leong that threatened him and the company even though what he is doing is in breach of Banking Secrecy Acts and the Securities Futures Act. Mr. Tay Woon Teck specifically threatened Mr. Ken Koh that MAS will protect the bank if Mr. Ken comes forward with the revelations. 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

It has been 4 months since this matter was raised to President Tharman, PM Lawrence Wong, DPM Gan Kim Yong, MAS and Members of Parliament in an open email by Mr. Koh on 28th February. However, there has been no public updates on the results on the investigations by any authorities till date. It is exactly what Tay Woon Teck has said in the audio recordings "MAS will protect UOB one!"

300 of us had lost our jobs without fair compensation. Many of us ended up driving Grab and some even to date had not found a job. If no one is held accountable and investigated for this, what confidence does this gives to Singaporeans about their country and government?? How would Singaporeans feel secured about their jobs and livehood?

We petition DPM Gan Kim Yong, NTUC Sec Gen Ng Chee Meng and Leader of Opposition Pritam Singh to support a resolution on 5th Sept first sitting of the 15th Parliament to form a Committee of Inquiry to lead an investigation into the alleged Conspiracy and Banking Secrecy/Securities Future Act Breaches. A Committee of Inquiry can summon witness beyond the bank staffs involved to do an open and transparent investigation. The COI can also investigate and interview people from the logistics industry on efforts to sabotage the company, if any, that lead to the 300 Singaporeans losing their jobs. Witness who feared coming forward in view of offending the big bank involved, can be subpoenaed to appear. 

We hope that the 300 of us Singaporeans who lost our jobs in Yang Kee Logistics can have accountability and hopefully, compensation due to us!