Prince Holding also help Sinki to fulfil their Car Dream de woh…now Mata is probing Liao

[k1976]

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Technology

Singapore Probe Into Alleged Prince Scam Ring Widens With Raid​

By Low De Wei and David Ramli
November 23, 2025 at 11:38 AM GMT+8
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Singapore authorities raided a car loan company that borrowed from a firm connected to Prince Holding Group, as the net widens on those linked to the alleged scam organization and its chair Chen Zhi.

The premises of Singapore-registered SRS Auto Holdings Pte. was raided by police last week, according to people familiar with the matter, who asked not to be identified disclosing sensitive information. The sole proprietor of SRS, Tan Yew Kiat, was arrested, they said.

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[k1976]

“The police are investigating Chen Zhi and the companies associated with him,” the Singapore Police Force said in a statement on Sunday, in response to questions on the raid on SRS. “One person has been arrested for his suspected involvement in money laundering offences so far. We are not able to comment further as the investigation is ongoing.”



The police statement did not mention SRS or Tan. SRS did not reply to an emailed request for comment, while Tan did not respond to calls or text messages on the same matter.

Last month, the US indicted China-born Chen for his alleged leadership of a vast transnational scam syndicate and criminal network. US and UK authorities also sanctioned the 37-year-old, his associates and related companies, and accused them of operating scam centres that stole money from victims worldwide and laundered billions of dollars in funds.

 

[k1976]

SRS, a private car rental and motor financing firm, took an “uncommitted revolving loan facility” from Skyline Investment Management, according to a May 2017 agreement seen by Bloomberg News, which corporate filings show is still in effect. At the time of the agreement, SRS was known as TS-Wheelers Holdings.

03:47

Amnesty says Cambodia’s multibillion-dollar scam industry thrives with government blessing
Amnesty says Cambodia’s multibillion-dollar scam industry thrives with government blessing

Skyline is one of the dozens of firms sanctioned by the US Treasury Department last month, which alleged its control by Chen made it part of the criminal network. Separately, Tan, a Singapore citizen, was listed in a corporate directory as a director at Cambodia-registered TGC Cambodia, which was also sanctioned by the US.


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Clarence Lun Yaodong, a lawyer representing Skyline, declined to comment.

The loan agreement also showed SRS held accounts with Singapore lender United Overseas Bank and the Singapore arm of Maybank.

“Due to client confidentiality, we are unable to comment on individual client relationships,” a UOB spokesperson said. Malaysia-headquartered Maybank did not respond to an emailed request for comment.

 

[k1976]

The US and UK’s sanctions against Chen and various associates and firms prompted investigations from authorities across Asia, including Singapore, Hong Kong and Taiwan.

Following the US action, Singapore police seized more than S$150 million (US$115 million) in assets connected to him and Prince, including properties, cars and bank accounts.

The Prince Group said in a statement earlier this month that it “categorically rejects the notion that it or its Chairman, Chen Zhi, has engaged in any unlawful activity”.

Skyline and other firms linked to him are also seeking access to funds frozen by Singapore authorities in accounts held with Maybank and Revolut, arguing it has caused “considerable hardship” to its employees and their families.

 

[syed putra]

Again, just like 1mdb, PAP took action only after US DOJ took action. If say Indonesia or fellow asean members took action first, PAP would just ignore abd cone up with all kinds of excuse like no extradition etc

 

[k1976]

Again, just like 1mdb, PAP took action only after US DOJ took action. If say Indonesia or fellow asean members took action first, PAP would just ignore abd cone up with all kinds of excuse like no extradition etc

Towards Swiss standard of living mah

 

[k1976]

65% of Sinki just enjoyed houses flies de woh

Or

65% are house flies??