Authorities here have started investigations into the two Singapore-based companies accused of supplying luxury goods to North Korea in violation of United Nations sanctions, said Singapore’s Ministry of Foreign Affairs (MFA) on Wednesday. According to a BBC report on Tuesday, citing a leaked draft of a UN report, more than US$2 million (S$2.62 million) in transactions between 2011 and 2014 flowed from an account that the two companies set up in a North Korean bank, Daedong Credit Bank, to T Specialist’s bank accounts in Singapore. The director of OCN (Singapore) Ng Kheng Wah told Channel NewsAsia in a phone interview in July 2017 that the allegations made against him were “baseless” and “fake”.