Shaw’s Beyonics Claims Ex-CEO Bribed to Divert Business

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Shaw’s Beyonics Claims Ex-CEO Bribed to Divert Business
Beyonics Technology Ltd., owned by Kyle Shaw’s private equity firm Shaw Kwei & Partners, sued its former CEO claiming he took bribes to send a customer’s business to Korean competitors. Goh Chan Peng, the former CEO of Singapore-based Beyonics, accepted payments from Nedec Co. and Kodec Co. to steer Seagate Technology Plc orders for hard-disk-drive parts to them, according to a lawsuit filed in the Singapore High Court. Seagate was Beyonics’s biggest customer, accounting for as much as 64% of revenue from 2009 to 2012, Beyonics said.