Insider trading -> kena orr gong S$320,000 by MAS

[Garlic]

Source: http://www.channelnewsasia.com/stories/sin.../359637/1/.html

 

 

By Conrad Raj, TODAY | Posted: 11 July 2008 1114 hrs

 

 

SINGAPORE: The Monetary Authority of Singapore (MAS) has imposed one of its heaviest civil penalties ever on the former financial controller of Cosco Corporation Singapore, Teo Chuan Teck, by fining him $320,000 for insider trading

[Chimp]

I guess he think he can get away with it but apparently not. At his position, he should know better.

 

In Singapore, people are not so aware of the insider trading law as we often hear about news of a listed company before they are made public. Of course some of those are bogus claims...

[Matoonia]

 

Two people have been fined $12 million for insider trading. The Monetary Aurhority of Singapore levied the civil penalties on Mr Lim Oon Cheng and his niece, Ms Lim Huey Yih, for contravening the Securities and Futures Act (SFA).

http://str.sg/3nU

 

$12m fine OMG. Is this the biggest civil/personal fine of any kind in Singapore?

 

 

[Ahseng]

But he really got away with it...if he made a boatload more than the fined amount

[Count-Bracula]

heng arhh . . no jiak orh dao png

[ChickenMob]

 

$12m fine OMG. Is this the biggest civil/personal fine of any kind in Singapore?

 

 

 

I rather they jail him jialat jialat....the $12M fine can be made easily by ERP anytime....

 

risking investors well-fare.

[Andyngps]

 

I rather they jail him jialat jialat....the $12M fine can be made easily by ERP anytime....

 

risking investors well-fare.

Totally concur!!!

[Mustank]

jin ho jiak

[Count-Bracula]

jin ho jiak

lim kopi first okay?

[Kusje]

But he really got away with it...if he made a boatload more than the fined amount

 

Already very rich.

 

 

The Straits Times understands that Mr Lim is the brother of Lim Oon Kuin, founder of oil trading firm Hin Leong Group. Mr Lim Oon Kuin was No. 14 on Forbes' list of Singapore's 50 richest people last year. He was reported to have a net worth of about US$2 billion (S$2.6 billion). Ms Lim, who is senior vice-president of business development at Hin Leong Trading, is his daughter. Mr Lim Oon Cheng is a director at a number of marine and oil-related companies, according to the Accounting and Corporate Regulatory Authority's (Acra's) database. - See more at: http://news.asiaone.com/news/crime/record-96m-penalty-insider-trading#sthash.eJlJ4GSn.dpuf