insider trading

Briefs

SINGAPORE (July 15): “Just imagine Churchill allowing this humiliating, servile, sycophantic indulgence of the American president’s ego to go unchallenged.”British opposition Labour Party’s shadow foreign secretary Emily Thornberry. She was criticising Boris Johnson, widely expected to become the next UK prime minister, for not supporting Kim Darroch, until recently the UK’s ambassador to the US, who had described US President Donald Trump in diplomatic cables as ‘inept’ .

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MAS convicts front-runners for insider trading in first case

(July 11): Singapore’s main financial regulator said it’s just seen the first-ever convictions for front-running prosecuted as an insider-trading offense in the city-state, one the world’s most sophisticated financial hubs.

IndoAgri controlling shareholder buys shares on open market after takeover offer lapses

SINGAPORE (July 8): Dissenting minority shareholders of Indofood Agri Resources are probably rejoicing after the recent failed takeover attempt by controlling shareholder Indofood Sukses Makmur. However, the dust has not settled. ISM appears bent on tightening its grip on IndoAgri — by accumulating the company’s shares on the open market.

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Briefs

SINGAPORE (July 1): “Presidential Harassment!”US President Donald Trump’s tweet, following news that former special counsel Robert Mueller will be testifying in public on his investigations into Trump’s alleged dealings with Russia.

SIA and MAS to expand cooperation

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Heah Theare Haw snaps up Geo Energy shares at 52-week low

SINGAPORE (July 1): Heah Theare Haw, a substantial shareholder of Geo Energy Resources, has bought more shares on the open market on June 21. The Singapore Exchange filing dated June 24 shows Heah bought two million shares at 15.3 cents each.

Heah purchased the shares when the stock was trading at a 52-week low, following an announcement made by the group on June 13 declaring a flood emergency status for 14 days from June 10 to 23 at its Indonesian mine owned by its subsidiary Tanah Bumbu Resources. The flood was said to have affected the production and delivery of coal.

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What companies should observe when conducting share buy-backs

SINGAPORE (Nov 30): Companies buy back their own shares for a variety of capital management reasons, such as to modify the company’s capital structure to improve the return on equity or to enhance earnings per share.

Singapore Exchange’s Listing Rules allow a company to purchase its own shares if it has obtained the prior approval of shareholders in a general meeting. The share buy-back is limited to 10% of the total number of issued shares as at the date shareholders’ approval is obtained for the share buy-back mandate.

Serial System group CEO called upon again for Bull Will-linked investigations in Taiwan

SINGAPORE (Sept 13): For the second time, Serial System’s executive chairman and group CEO Derek Goh has asked by the Investigation Bureau, Ministry of Justice of Taiwan to personally assist in an ongoing investigation regarding its 19.02%-owned subsidiary, Bull Will.

Singapore Exchange launches guidebook to curb insider trading

SINGAPORE (Dec 5): The Singapore Exchange has launched a guidebook titled "Handling of Confidential Information and Dealings in Securities: Principles of Best Practice" to help listed companies prevent insider trading.

The guidebook articulates broad measures such as having in place clear written policies and procedures on the handling of confidential information and restriction on dealings in securities as well as the restricted dissemination and sharing of confidential information so as to reduce chances of leakage.

Former director linked to CSE Global fined for insider trading of shares in 2011

SINGAPORE (Nov 30): A former director linked to CSE Global has been ordered to pay the Monetary Authority of Singapore (MAS) a civil penalty of $423,000 – in addition to a sum of $61,457.90 for the related legal fees incurred – for insider trading in the shares of the group’s shares in 2011.

Tarek Bary, whose full name is Tarek Abdel Tawab Mohamed Abdel Bary, served as the managing director of CSE Global’s wholly-owned subsidiary CSE-Transtel, which was formerly known as TransTel Engineering prior to its acquisition by CSE Global, at the time.

Ex-CIMB banker admits insider trades in Singapore takeovers

 

SINGAPORE (May 26): Alan Tay Yeow Kee, a former CIMB Group Holdings Bhd. banker, admitted to insider trading on two stocks before the companies received takeover offers.

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