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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Anita Gabriel
20 May 2014
Beleaguered junior miner LionGold Corp’s chief operating officer Matthew Gill has resigned following a “disagreement over operational matters”.
The company said his resignation took effect last Friday.
The mining veteran had joined LionGold in September 2012, after it took over Castlemaine Goldfields, where he had been managing director.
Earlier this month, LionGold’s non-executive independent director Gary Francis Paul Scanlan, who is also Castlemaine’s non-executive chairman, stepped down from the board.
Singapore’s Commercial Affairs Department had asked LionGold to provide accounting records and minutes of meetings and resolutions from April 1, 2010 to March 31.
The CAD also sought directors’ e-mails and those of the adviser to the chairman and the e-mail of certain key management personnel.
LionGold is one of several companies under CAD’s sweeping probe into possible breaches of securities laws involving the trading of its own shares and that of two others - Asiasons Capital and Blumont Group - after they crashed last October.
LionGold shares fell 1 per cent to 8.8 cents.
Another linked firm under CAD probe, Innopac Holdings, said the Singapore Exchange has granted it an extension until end July to announce its first quarter results ended March 2014.
The firm has also been given an extension until June 27 to hold its annual shareholder meeting.
Innopac shares fell 8 per cent to end the day at 1.1 cents.