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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Angela Tan, Business Times
17 October 2013
Asiasons Capital Limited said on Thursday that it would relook the terms and conditions of its planned purchase of 27.5 per cent of US Black Elk Energy Offshore Operations LLC.
The decision came after the Singapore Exchange yesterday rejected the company’s application to use its general mandate for the listing and quotation of the new shares and the introducer fee shares.
“...the SGX-ST is of the view that there is insufficient mandate for the issuance of the consideration shares and introducer fee shares from the general mandate of the company,” Asiasons said in a statement.
Asiasons, together with LionGold and Blumont, has been declared “designated securities” by the regulator in an effort to stem speculative fever surrounding their trading.