Five employees of Phillip Securities Pte Ltd were charged yesterday with a total of 40 criminal counts of fraud under the Securities and Futures Act (SFA) for allegedly conducting trades that were against the retail brokerage’s interests.
From building scores of new towns to constructing state-of-the-art rail networks, China’s demand for steel to feed its modern-day industrial revolution has driven a spectacular rally in the price of the raw material iron ore.
The former chief executive officer and the financial controller of China Sky Chemical Fibre were a no-show yesterday at a trial involving the Monetary Authority of Singapore’s (MAS) efforts to permanently freeze US$3.7 million of the ex-CEO’s funds ahead of the completion of a probe of China Sky for possible breaches of securities law.