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The Star
26-06-2025
- Business
- The Star
Singapore company allegedly received US$45mil illegally from abroad, two men charged
Two men were handed one charge each on June 26, 2025 for being involved in carrying out a business of providing payment services illegally. - Photo: ST file SINGAPORE: Two men were charged in court on Thursday (June 26), after the company they were involved in allegedly received about US$45 million (S$57.4 million) over multiple transactions illegally. Patrick Lee Paik Cheng, 65, a Malaysian and the director of Tupt, and Dinh Tien Dat, 28, a Vietnamese, who is said to have been in a position to influence the conduct of the company, were handed one charge each for being involved in carrying out a business of providing payment services illegally. Company records show that Tupt, a Singapore company, is a wholesale business that can operate on a fee or commission basis. According to court documents, it received US$44,951,709.70 between July 28, 2020, and April 29, 2022, from outside Singapore via 26 transactions in an RHB bank account and 32 transactions in a Standard Chartered Bank account. Said the police in a statement: 'The Commercial Affairs Department's investigations established that neither the men nor the company have a licence to carry out a business that provides any type of payment service in Singapore, nor were they considered as exempted payment service providers under the Payment Services Act 2019.' In court on June 26, Dinh said he wanted to plead guilty to his charge, while Lee did not indicate his plea. Dinh is expected to plead guilty on Aug 7, while Lee's case was adjourned for a further mention on July 24. If convicted, the men can each be fined up to $125,000, jailed for up to three years, or both. In its statement, the police said it will not hesitate to act against any individual or entity involved in providing unlicensed cross-border money transfer services. It added: 'Members of the public are strongly advised to use financial institutions or payment service providers licensed by the Monetary Authority of Singapore when conducting cross-border money transfers. 'The police would like to caution against engaging in unlicensed payment service activities, as unlicensed payment service providers are not regulated and are not subjected to stringent anti-money laundering and counter-terrorism financing measures.' - The Straits Times/ANN
Straits Times
26-06-2025
- Business
- Straits Times
Singapore company allegedly received $57 million illegally from abroad, two men charged
SINGAPORE – Two men were charged in court on June 26, after the company they were involved in allegedly received about US$45 million ($57.4 million) over multiple transactions illegally. Patrick Lee Paik Cheng, 65, a Malaysian and the director of Tupt and Dinh Tien Dat, 28, a Vietnamese, who is said to have been in a position to influence the conduct of the company, were handed one charge each for being involved in carrying out a business of providing payment services illegally. Company records show that Tupt, a Singapore company, is a wholesale business that can operate on a fee or commission basis. According to court documents, it received US$44,951,709.70 between July 28, 2020 and April 29, 2022, from outside Singapore via 26 transactions in an RHB bank account and 32 transactions in a Standard Chartered bank account. Said the police in a statement: 'The Commercial Affairs Department's investigations established that neither the men nor the company have a licence to carry out a business that provides any type of payment service in Singapore, nor were they considered as exempted payment service providers under the Payment Services Act 2019.' In court on June 26, Dinh said he wanted to plead guilty to his charge, while Lee did not indicate his plea. Dinh is expected to plead guilty on Aug 7, while Lee's case was adjourned for a further mention on July 24. If convicted, the men can each be fined up to $125,000, jailed for up to three years, or both. In its statement, the police said it will not hesitate to act against any individual or entity involved in providing unlicensed cross-border money transfer services. It added: 'Members of the public are strongly advised to use financial institutions or payment service providers licensed by the Monetary Authority of Singapore when conducting cross-border money transfers. 'The police would like to caution against engaging in unlicensed payment service activities, as unlicensed payment service providers are not regulated and are not subjected to stringent anti-money laundering and counter-terrorism financing measures.' Join ST's WhatsApp Channel and get the latest news and must-reads.
Straits Times
26-06-2025
- Business
- Straits Times
Singapore company allegedly received $57 million illegally from abroad, 2 men charged
If convicted, the men can each be fined up to $125,000, jailed for up to three years, or both. PHOTO: ST FILE SINGAPORE – Two men were charged in court on June 26, after the company they were involved in allegedly received about US$45 million ($57.4 million) over multiple transactions illegally. Patrick Lee Paik Cheng, 65, a Malaysian and the director of Tupt and Dinh Tien Dat, 28, a Vietnamese, who is said to have been in a position to influence the conduct of the company, were handed one charge each for being involved in carrying out a business of providing payment services illegally. Company records show that Tupt, a Singapore company, is a wholesale business that can operate on a fee or commission basis. According to court documents, it received US$44,951,709.70 between July 28, 2020 and April 29, 2022, from outside Singapore via 26 transactions in an RHB bank account and 32 transactions in a Standard Chartered bank account. Said the police in a statement: 'The Commercial Affairs Department's investigations established that neither the men nor the company have a licence to carry out a business that provides any type of payment service in Singapore, nor were they considered as exempted payment service providers under the Payment Services Act 2019.' In court on June 26, Dinh said he wanted to plead guilty to his charge, while Lee did not indicate his plea. Dinh is expected to plead guilty on Aug 7, while Lee's case was adjourned for a further mention on July 24. If convicted, the men can each be fined up to $125,000, jailed for up to three years, or both. In its statement, the police said it will not hesitate to act against any individual or entity involved in providing unlicensed cross-border money transfer services. It added: 'Members of the public are strongly advised to use financial institutions or payment service providers licensed by the Monetary Authority of Singapore when conducting cross-border money transfers. 'The police would like to caution against engaging in unlicensed payment service activities, as unlicensed payment service providers are not regulated and are not subjected to stringent anti-money laundering and counter-terrorism financing measures.' Join ST's WhatsApp Channel and get the latest news and must-reads.
Yahoo
13-06-2025
- Business
- Yahoo
Vietnamese coffee chain opens first Hayward location
(KRON) – A Vietnamese coffee chain has opened in downtown Hayward. Tram Cream Coffee has opened its first Hayward location. The soft opening for the Hayward location was June 3. The owner of Tram Cream Coffee in Hayward, Khoa Dinh, told that the store has been much busier than expected. Per Tram Cream Coffee's website, the cafe is where Vietnamese tradition meets innovation with bold flavors and unique brewing techniques. Dinh said the tiramisu latte and the matcha latte top sellers for the younger crowd. Other patron favorites are the egg coffee and cream coffee. Oakland coffee house at center of Star of David hat controversy sued by DOJ For patrons who may not enjoy coffee, Tram has cold brew fruit teas, like peach orange tea and running dragon tea. Dinh said he is looking forward to revitalizing downtown Hayward and has seen an influx of people in the area since the soft opening. The grand opening does not have an exact date; however, the cafe is open. Tram Coffee's address is 1075 B St. The coffee shop is open every day from 7 a.m. to 8 p.m. Tram Cream Coffee also has locations in San Jose, Sacramento and Garden Grove. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
NDTV
04-06-2025
- General
- NDTV
Cannabis Compounds Show Potential Against Deadly Fungal Pathogen In Lab Studies
Recent laboratory research indicates that compounds derived from the cannabis plant, specifically cannabidiol (CBD) and cannabidivarin (CBDV), exhibit antifungal properties against Cryptococcus neoformans, a WHO-listed priority fungal pathogen responsible for severe infections like cryptococcal meningitis. In vitro studies have shown that these cannabinoids can inhibit the growth of this pathogen, suggesting potential avenues for developing new antifungal treatments. According to a media release by Macquarie University, the compounds also killed dermatophytes that cause common skin infections, and much faster than existing treatments. The study's findings pave the way for potential new treatments for fungal infections. Published in The Journal of Neglected Tropical Diseases (PLOS NTDs), the research offers promising prospects for addressing these infections. Fungal infections affect more than one billion people around the world each year, according to data from the Centres for Disease Control and Prevention. Whether it's athlete's foot, a yeast infection, or the potentially deadly lung infection pneumocystis pneumonia, fungal pathogens are a serious health threat with relatively few effective treatments. Macquarie University's Dr Hue Dinh, a postdoctoral research fellow in the School of Natural Science, and Associate Professor Amy Cain resolved to tackle the growing threat of fungal infections with help from Professor Mark Connor and Dr Marina Junqueira Santiago from the Macquarie School of Medicine and collaborators at the Universities of Sydney and NSW. Having worked in the field of antimicrobial resistance, Dr Hue Dinh knew that developing an entirely new drug and getting it to market could take decades. It made more sense to work with pharmacological compounds already approved for use in humans for other conditions because their safety and mechanism of action are already well known. Cannabis connection Dr Dinh says one of the challenges in the research project was deciding which cannabinoids to test and against what. "Hundreds of natural compounds can be extracted from the cannabis plant, and we don't know which ones work," says Dr Dinh. Macquarie Medical School pharmacologist Professor Mark Connor, who has a strong background in researching cannabinoids, joined the team in their quest to target the fungal pathogen Cryptococcus neoformans, which causes deadly lung or brain infections. "When Cryptococcus neoformans gets to your central nervous system, it causes life-threatening meningitis. The mortality rate is very high, and it's really hard to treat," says Dr Dinh. The researchers found two cannabinoids - cannabidiol and cannabidivarin - that both quickly killed Cryptococcus neoformans in the laboratory, working even faster than current antifungal therapy. They tested the compounds against 33 other fungal pathogens from clinical, veterinary and environmental settings. This revealed the cannabinoids were effective in killing a range of Cryptococcus species as well as the fungal skin pathogens that cause athlete's foot.
