Two Singaporean men were fined S$3.34 million (US$2.61 million) each for their roles in a scheme to import more than 4.5 million litres of automotive diesel from Malaysia into Singapore without the required declarations.
The scheme resulted in the evasion of duty and Goods and Services Tax (GST), Singapore Customs said on Tuesday (Oct 6).Chua E Hong, 51, and Ng Leok Kwee, 48, each pleaded guilty to three charges of fraudulently evading duty under the Customs Act.
The charges involved 4,527,099 litres of automotive diesel oil imported between April and December 2024, with about S$905,419 in duty evaded.
Another 16 charges were taken into consideration during the two men’s sentencing. These comprised six charges for fraudulent evasion of duty and 10 charges for fraudulent evasion of GST.
The duty and GST evaded in these charges amounted to about S$2.5 million, Singapore Customs said.
At the time of the offences, Chua was managing director and Ng was executive director of both CNC Petroleum and PS Energy, sister companies under the PS Energy Group engaged in last-mile fuel distribution in Singapore.
Chua oversaw the finance and sales functions of the two companies, while Ng was responsible for operational matters.
CNA
