SINGAPORE (May 22): Prosecution witness Ong Kah Chye revealed trades in three accounts under him were solely executed on the instructions of John Soh Chee Wen.

The former Maybank Kim Eng Securities dealer admitted he had received instructions from Soh for accounts belonging to three clients – Peter Chen Hing Woon, Tan Boon Kiat (also known as Gary Tan) and Magus Energy Group. However, Ong was not sure if Soh had given instructions for a fourth account – Friendship Bridge Holding — as the “account was really not active at all”.

The directors of Magnus Energy, namely, Lim Kuan Yew, Koh Teng Kiat and Luke Ho had the authority to give instructions for the Magnus account and Quah Su-Ling was authorised to give instructions for the Friendship Bridge account. While the account holders of the three accounts had given Ong oral permission to accept instructions from Soh, none of them had submitted a third-party authorisation form, the court heard on Wednesday.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook