SINGAPORE - The maker of Tiger beer, Asia Pacific Breweries (APB) is being sued by four foreign banks due to the 73 million US dollars lost between 1999 and 2003 by APB’s former finance manager, Chia Teck Leng misappropriation of funds borrowed from the four foreign banks

Chia Teck Leng was convicted and pleaded guilty in 2004 and is serving a 42 year prison sentence. He admits he mis-used the funds to feed his gambling habit

Chia, during the period he was APB’s finance manager, submitted documents with forged signatures of top APB executives to convince the banks to give him credit facilities in APB’s name.

The banks involved are Sweden’s Skandinaviska Enskilda Banken, Germany’s Bayerische Hypo-und Vereinsbank and Japan’s Sumitomo Mitsui Banking Corp and Fuji Bank