The two alleged masterminds of the penny stock crash and their supposed key accomplice faced a total of 365 charges yesterday in what prosecutors call the largest market manipulation case in Singapore's history.
The curtains rose on Singapore's biggest market-rigging scandal on Friday, as the alleged perpetrators who wiped out S$8 billion from the market in the penny stock crash of 2013 appeared before the court.
Penny stock crash "mastermind" John Soh Chee Wen and two others, on Friday (Nov 25) were slapped with a total of 365 charges for their roles in the infamous penny stock crash in October 2013 that wiped out S$8 billion from the Singapore stock market in just three days.
For the fourth time in six months, Singapore Exchange (SGX) on Thursday issued a trading query to mainboard-listed ISR Capital. The latest query also makes it the second query this week directed at the company.
Mainboard-listed ISR Capital, which intends to acquire a Madagascar rare earths mining concession valued at over US$1 billion, has appointed Chen Tong, a mining and resources sector expert, as executive chairman of its board of directors.
The US dollar soared against high-yielding currencies and Asian emerging markets sank on Friday (Nov 11) on the prospect of higher US interest rates, with dealers betting Donald Trump's planned huge spending policies will fire inflation.
The poor state of the local stock market has been the subject of much discussion over the past 2-3 years. Declining liquidity, a rising tide of delistings and a dearth of large, good-quality replacements are among the problems the market faces. It is said that the absence of active daily trading married to a relatively small size means there is a very real risk that the Singapore market will fall off the radar of big international money - if it already hasn't.
For students like Sun Jiaxuan at the National University of Singapore, the future of finance is all about high-frequency trading firms, not the Wall Street banks that graduates once aspired to.
Dutch coffee and tea firm Jacobs Douwe Egberts (JDE) is planning to acquire Super Group in a deal valuing Super at S$1.45 billion, with the aim of delisting and privatising the firm.
Property investment firm Imperium Crown is planning to invest S$5 million in two cineplexes in China, which it says will open opportunities for the group to tap into China's booming film industry.