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On 6 January 2026, Richard Siua Cheng Foo (“Siua”), former Group Chief Operating Officer of SGX Mainboard-listed MDR Limited (“MDR”) and former Chief Executive Officer (“CEO”) of several of MDR’s subsidiaries, was convicted of committing criminal breach of trust in his capacity as a key executive of his company and sentenced to 66 months’ imprisonment. MDR and its subsidiaries are in the business of distribution and sale of mobile devices and accessories.

As CEO of MDR’s subsidiaries, Siua was entrusted with the authority to withdraw mobile devices and accessories (“company assets”) belonging to the subsidiaries for business purposes. 

Between November 2020 and December 2021, Siua misappropriated a total of 4,057 units of mobile devices and accessories, with an estimated value of S$2,545,000, from two MDR subsidiaries. He misappropriated these assets for financial gain, and in order to fund his gambling addiction.

Siua pleaded guilty and was convicted on one count of an offence under Section 409(1)(g) of the Penal Code for committing criminal breach of trust as a key executive of a corporation. Four other similar charges were taken into consideration for the purpose of sentencing. 

In connection with Siua’s case, the sole director and shareholder of Next Telecom Pte Ltd, Tan Yeow Kian (“Tan”), has been charged with money laundering offences for his alleged possession of Siua’s benefits obtained from criminal conduct. Court proceedings against Tan are underway. 

Separately, former Sales Director of one of the MDR subsidiaries, Ng Eng Ming Peter (“Ng”), was earlier convicted on 29 August 2025 for committing criminal breach of trust as an employee of the company and was sentenced to 23 months’ imprisonment. 

As Sales Director, Ng had authority to instruct his staff to withdraw company assets for business purposes. However, similar to Siua, Ng misappropriated these company assets by selling them for personal gains. Between January 2019 and December 2021, Ng misappropriated 155 units of mobile devices and accessories valued around S$200,000. 

Ng pleaded guilty and was convicted on one count of an offence under Section 408 of the Penal Code for committing criminal breach of trust as an employee. Two other similar charges were taken into consideration for the purpose of sentencing. 

The Police take a firm view of criminal breach of trust offences, particularly those committed by persons in positions of trust and authority. Such acts undermine corporate governance and erode public confidence in business integrity. The Police will not hesitate to act against those who abuse their position for personal gain.