Showing posts from February, 2017

Noble back in the black with full-year profit of US$8.7m

An improvement in gross profit margins, much lower impairment charges and gains from the disposal of Noble Americas Energy Solutions (NAES) helped the group to post a net profit of US$8.7 million, a reversal from its net loss of US$1.67 billion in 2015.

OUE launches takeover offer for IHC

Their mainboard-listed property group OUE on Thursday launched a surprise takeover offer for International Healthway Corporation (IHC), valuing the Catalist-listed nursing home owner at about S$175.9 million.

Five trading representatives fined, suspended for creating false market

The Disciplinary Committee (DC) of the Singapore Exchange (SGX) has slapped fines ranging from S$35,000 to S$180,000 on five trading representatives (TRs) for their respective roles in the creation of a false market in the trading of Far East Group and Zhongmin Baihui Retail Group (ZMBH).

Five trading representatives fined, suspended for market manipulation

Five trading representatives were fined and suspended last year after they created a false market in the shares of five listed firms.

Civil penalties of S$100,000 each for two over SFA breaches

The Monetary Authority of Singapore (MAS) announced on Thursday that the state courts had ordered civil penalties of S$100,000 each against two individuals - John Chionh Teow Hie and Kiew Yoon Seng - for false and unauthorised trading in contravention of the Securities & Futures Act (SFA).

Factors SGX considers in deciding whether to take action against false trading

In 2016, the independent SGX Disciplinary Committee (DC) heard 3 cases involving 6 Trading Representatives (TRs) who had employed manipulative practices to create a false market in various securities.

SGX action against false trading will be risk-based

The Singapore Exchange (SGX) will take regulatory action against false market breaches only if these cases cause extensive and prolonged market risks.

Magnus Energy subsidiary scraps purchase of Goyes Agri-Food Investment

Magnus Energy Group on Thursday said that its subsidiary APAC Coal will not proceed with the proposed acquisition of Goyes Agri-Food Investment.

Ex-forex traders in Singapore get jail time for cheating banks

Former HSBC senior dealer Ivan Chng was sentenced to 15 weeks in jail, Singapore High Court Justice See Kee Oon said on Wednesday. Ex-Deutsche Bank trader Toh Hway Khuan was given an eight-week sentence. Neither man was fined. The two were convicted in January of using their banks' accounts in 2009 to get preferential rates on the US dollar.

Former Deutsche Bank, HSBC traders in Singapore jailed for cheating employers

Former HSBC senior dealer Ivan Chng Kian Wee, 48, was jailed 15 weeks while former Deutsche Bank spot trader Toh Hway Khuan, 51, was jailed eight weeks.

Malaysian ex-minister's son gets bankruptcy annulled

A bankruptcy order against businessman Md Wira Dani Abdul Daim, son of Malaysia's former finance minister Daim Zainuddin, has been annulled, suggesting that a $1.65 million debt he owed a broking firm here has been settled.