In an unexpected turn of events, Surrey Hills Holdings has announced the dismissal of its chief executive officer, Ms. Pang Gek Teng, after she allegedly confessed to serious misconduct and fraudulent activities against the company. The termination took effect on Wednesday, March 26, and was publicly disclosed in a company statement on Friday.

Surrey Hills Holdings, known for its charming Australian-inspired grocery store, revealed that Ms. Pang admitted to “certain wrongdoings and fraud” during routine internal checks. This alarming discovery prompted the company to launch a more extensive investigation, which aimed to uncover the depth of her alleged misconduct and evaluate any potential financial damage inflicted on the business.

Sources close to the matter revealed that the irregularities found during the review were significant enough to trigger immediate action. “Upon her admission to these wrongdoings, the company took swift measures, resulting in her termination on March 26,” stated the company’s official communication.

While the company continues its investigation, it has chosen to withhold specific details due to the sensitive nature of the situation. However, it did indicate that the allegations are severe enough to necessitate not only the termination of Ms. Pang but also possible legal actions, contingent on the findings of the ongoing investigations.

Temporarily stepping in as the new CEO is Madam Koh Chew Chee, a current director on the board of Surrey Hills Holdings. The company reassured its customers and stakeholders that operations would continue “without disruption” and that the management and board remain dedicated to the growth and success of the business.

At only 36 years old, Ms. Pang, who previously worked as a banker, founded Surrey Hills Grocer in 2021. Reflecting on the unfolding drama, she expressed her “deep disappointment” regarding her dismissal but took pride in the company’s achievements over the last four years. “I need time to process what has happened,” Ms. Pang commented, adding her enduring commitment to the industry even amid uncertainty about her future.

As the situation unfolds, many are left wondering about the extent of the alleged fraud and what it means for the future of Surrey Hills Grocer and its reputation in the market. Stay tuned for updates on this developing story!