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
Comments
Kenneth Lim
03 April 2014
White-Collar investigators have asked ITE Electric Co for information on three key officers as part of an investigation into possible breaches of the Securities and Futures Act (SFA), the electrical equipment supplier announced on Thursday.
The Commercial Affairs Department (CAD) has sought access to information and all electronic data and equipment belonging to chief executive Ho Cheng Leong, chief operating officer Ang Cheng Gian and non-executive and independent director Goh Hin Calm.
The CAD said on Wednesday that it is investigating possible breaches of the SFA relating to suspected trading irregularities in the stocks of Asiasons Capital, Blumont Group and LionGold Corp. Those stocks plunged in October 2013, triggering a massive selloff among Singapore-listed small market capitalisation counters.
The ITE office holders bring to 10 the number of people on whom the CAD has also sought information and data so far. Those include Blumont executive chairman Neo Kim Hock; Blumont executive director James Hong Gee Ho; LionGold independent director and Ipco International secretary Lynne Ng Su Ling; LionGold director of business and corporate development Peter Chen Hing Woon; Magnus Energy chief operating officer Koh Teng Kiat; Magnus Energy chief financial officer Luke Ho Khee Yong; and Innopac Holdings chief executive Wong Chin-Yong.