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SINGAPORE: Ng Teck Lee, the former CEO of Citiraya who absconded for almost 20 years, was denied bail by a district court on Tuesday (Dec 24).

The 58-year-old is implicated in an alleged S$72 million (US$53 million) embezzlement case involving Citiraya, a firm that recycled and recovered precious metals from electronic scrap.

He and his wife and co-accused Thor Chwee Hwa, 55, were arrested in Malaysia on Dec 3 after 19 years on the run.

Deputy Public Prosecutor Hon Yi told the court that Ng was living in Malaysia under an alternative identity during his abscondment.

This presented a clear flight risk, the prosecutor said.

At a previous hearing where his wife was also denied bail, the court heard that Ng and Thor were found with fake identity documents when they were arrested, and that Thor held overseas assets of about S$440,000.

At that hearing, Ng was not allowed to have access to legal counsel as investigations were still in the preliminary stage.

On Tuesday, Mr Hon said the prosecution was applying for Ng to stay in custody but with full access to his lawyer, Mr Aristotle Eng.

Mr Eng said he did not object to his client not having bail at this juncture.

Ng and Thor will return to court on Feb 7, 2025. Both face a single holding charge each at this stage, but Ng is under investigation for 150 offences.

These are offences under the Prevention of Corruption Act, Penal Code and Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act, the court previously heard.

Ng's holding charge is for giving instructions to certain Citiraya employees not to crush electronic scrap that was entrusted to him as CEO and president of the company, but to repackage and export the scrap instead in January 2005.

Thor's charge is for helping her husband retain criminal benefits by opening a Credit Suisse Hong Kong branch account into which about S$1.1 million was transferred on or around Jul 10, 2003.