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Two ex-UOBKH staff charged with lying to MAS over due diligence reports on a Catalist aspirant
TWO former senior employees of UOB Kay Hian Private Limited (UOBKH) were charged on Wednesday for allegedly lying to the Monetary Authority of Singapore (MAS) in relation to reports on a then Catalist aspirant. Lan Kang Ming, 38, and Wee Toon Lee, 34, each face three charges of providing MAS with false information in October 2018 in relation to due diligence reports on an unidentified company applying to list on the Catalist board of the Singapore Exchange. MAS said in a media statement on Wednesday that it was performing an onsite inspection of UOBKH between June and August 2018, to assess the latter's controls, policies and procedures in relation to its role as an issue manager for Initial Public Offering (IPOs). During the examination, Lan and Wee were said to have provided different versions of a due diligence report relating to background checks on a company applying to be listed on the Catalist board of the Singapore Exchange. UOBKH had acted as the issue manager
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Added to the FTSE ST China Index will be:
Yanlord Land, Hyflux, People's Food Holdings, Li Heng Chemical Fibre Technologies, FerroChina, CapitalRetail China Trust, Hong Leong Asia, Pacific Andes Holdings, Midas Holdings, SP Chemicals, Pine Agritech, Fung Choi Media, Beauty China Holdings, Hyflux Water Trust, Kingboard Copper, Sinomem Technology, China Taisan Technology, China New Town Development, HL Global, DMX Technologies, Advanced Holdings.
Removed from FTSE ST China Index will be:
China Merchants Holdings Pacific, C&O Pharmaceutical, Bright World Precision Machinery, Shanghai Asia Holdings, China Flexible Packaging, China Lifestyle Food and Beverages, China Yuanbang Property, Memtech International, CHT Holdings, RH Energy, China Angel Food.
To the FTSE ST China Top Index -- tracking Singapore-listed stocks with major operations in China -- will be added Hyflux and Li Heng Chemical Fibre Technologies. Hsu Fu Chi International Ltd and Bio-Treat Technology will be removed.
The next review is scheduled for March 12, 2009.